Shares of Dreamfolks, the country’s largest airport service aggregator platform, made a strong debut at the exchanges on Tuesday. The stock got listed at Rs 505 on the BSE index, a premium of 54.91 per cent against the issue price of Rs 326 (upper band). On NSE, the scrip started trading at Rs 508.70.
The initial public offering (IPO) garnered a strong investor response and was subscribed 56.68 times times on the last day of subscription on August 26.
The category reserved for qualified institutional buyers (QIBs) got subscribed 70.53 times. On the other hand, the portion reserved for non-institutional investors and retail individual investors got oversubscribed 37.66 times and 43.66 times, respectively.
The company had mopped up Rs 253 crore from anchor investors.
The lot size of the 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 as much as Rs 1,94,948.
Equirus Capital Private Limited and Motilal Oswal Investment Advisors Pvt Ltd were the lead managers of the IPO.
DreamFolks has 50 clients as of March 2022. It has a global footprint extending to 1,416 touchpoints in 121 countries across the world out of which 244 touchpoints are in India and 1,172 touchpoints overseas.
With 100 per cent coverage across all 54 airport lounges operational in India, DreamFolks has gained a market share of over 95 per cent of all India-issued card-based access to domestic lounges in India. In FY22, DreamFolks facilitated access to 35.3 lakh out of 52 lakh passengers accessing lounges in India (around 68 per cent of the total share).
