New Delhi:
Airport Service aggregator platform Dreamfolks Services Ltd said Monday it has set a price range of Rs 308-Rs 326 for its first public offering, which opens for public subscription on Wednesday.
The first share sale will open for public subscription on August 24 and close on August 26. The bids for anchor investors would open on August 23, the company announced.
The initial public offering (IPO) is fully an Offer-For-Sale (OFS) of up to 1.72 crore shares by promoters — Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav.
The public offering will represent 33 percent of the company’s paid-up share capital after the offering.
The company will allocate up to 60 percent of the Qualified Institutional Buyer (QIB) portion to the anchor investors on a discretionary basis. Investors can bid on a minimum of 46 shares and then in multiples of 46.
DreamFolks facilitates an enhanced airport experience for passengers, leveraging the technology-driven platform.
The company’s asset-light business model integrates global and domestic networks, credit and debit card issuers and other corporate customers, including airlines, with various airport lounge operators and other airport-related service providers on a unified technology platform.
It facilitates consumer access to airport related services such as lounges, food & beverage, spa, meet & assist airport transfer, transit hotels or access to dormitories and baggage transfer services.
DreamFolks’ operating income increased from Rs 98.7 crore in fiscal 2017 to Rs 367.04 crore in fiscal 2020, with a compound annual growth rate of 55 percent.
Equirus Capital and Motilal Oswal Investment Advisors are the lead managers for this issue.
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