DreamFolks Services IPO Listing Today: Shares of Dreamfolks Services, the country’s largest airport service aggregator platform, will debut on Dalal Street on Tuesday. Dreamfolks stock will get listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) at 10 am on September 6. The company launched its nearly Rs562 crore initial public offering (IPO) from August 24 to August 26 and received strong demand across investor categories. The IPO had subscribed by 56.68 times. Currently, DreamFolks IPO grey market premium (GMP) is around Rs 105.
The quota for retail investors (RIIs) was subscribed 43.66 times, the category for non-institutional investors 37.66 times and the portion for qualified institutional buyers (QIBs) 70.53 times. The IPO got fully subscribed within hours of opening on Wednesday ending the day with 1.96 times subscription.
The issue, entirely an offer for sale, is sized at Rs 562 crore at the upper end of the price band of Rs 308-326 a share.
The lot size of Dreamfolks Services IPO was 46 shares for which one would have to spend Rs 14,996. A retail individual investor could submit bids for up to 13 lots or 598 shares by spending Rs 1,94,948. Equirus Capital Private Limited and Motilal Oswal Investment Advisors Pvt Ltd were the lead managers of the IPO.
DreamFolks Services IPO GMP Ahead of Listing:
According to market observers, DreamFolks shares are available at a premium of Rs 110 in the grey market today. However, market experts believe that DreamFolks share listing would be around Rs 400 apiece. However, stock market experts maintained that GMP is not an ideal indicator about the listing premium that one can expect from a public issue. They said that GMP has nothing to do with the balance sheet of the company and hence one should not blindly rely on it. They advised applicants to rely on the balance sheet of the company as it gives a concrete fundamental picture of the public issue.
DreamFolks Services IPO Listing Expectation Today:
Aayush Agrawal, Senior Research Analyst, Swastika Investmart Ltd., said: “DreamFolks Ltd. is a proxy play on the rising air travel in India and due to its first mover advantage and dominant position in the lounge access market, the company is poised to grow exponentially in the future. The issue had received a phenomenal response from investors and the subscription levels stood at 56.68 times. Additionally, GMP is 152 i.e. 46.63 per cent over its listing price, thus indicating a promising and strong listing performance.”
Manoj Dalmia Founder and Director-Proficient Equities Limited, said: “DreamFolks is a dominant player and India’s largest airport service aggregator platform, an incubator of the industry with its unique, asset-light, capital-efficient business model. DreamFolks provides services to all the Card Networks operating in India including Visa, Mastercard, Diners/Discover, and RuPay. However, on account of the pandemic scare, it suffered a setback in its earnings at the PAT level for FY21 and due to this it is offering only 10% for retail investors. Investors can buy this from a mid to long-term perspective looking at the total subscription the issue might get some listing gains where investors can book for short-term gains. The estimated listing price could be around Rs 408 to Rs 428.”
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