DreamFolks Services IPO List: DreamFolks Services IPO (initial public offering) will most likely debut on BSE and NSE on Tuesday, September 6, 2022. The public offering was subscribed to 56.68 times on the last day of the issue’s opening. DreamFolks facilitates an enhanced airport experience for passengers, leveraging its technology-driven platform, and facilitates consumer access to airport-related services such as lounges, food and beverages, spas, meet and assist airport transfer, transit hotels or access to sleeping quarters, and baggage transfer services.
DreamFolks Services IPO: Subscription Status
The private investor (RII) quota was subscribed 43.66 times, the non-institutional investor category 37.66 times and the qualified institutional buyers (QIB) share 70.53 times. The IPO was fully subscribed within hours of opening on Wednesday, ending the day with 1.96 subscriptions.
The issue, which is entirely an offer for sale, is valued at Rs 562 crore at the top end of the price range of Rs 308-326 per share.
DreamFolks IPO: GMP Today
According to market observers, DreamFolks shares are available today at a premium of Rs 110 in the gray market. However, market experts believe that the DreamFolks stock list would be around Rs 400 each. However, stock market experts argued that GMP is not an ideal indicator of the price premium to be expected from a public offering. They said that GMP has nothing to do with the company’s balance sheet and so one should not rely on it blindly. They advised applicants to rely on the company’s balance sheet as it provides a concrete fundamental picture of the public issue.
Abhay Doshi, founder of UnlistedArena, said: “Primary markets have gained momentum following Syrma SGS’s commendable listing. Strong bids for the Dreamfolks IPO were registered in all categories. Attractive business concept despite aggressive pricing piques investor interest. the strong interest combined with stable broader market conditions, we can expect a very strong listing with a premium of more than 25-30 percent.”
What experts say about profits on the list?
Ravi Singhal, CEO, GCL, said: “Dream people can be quoted around Rs 480 to Rs 520. Long term investors should keep investing with stop loss Rs 350, target Rs 700 plus in the next 1 year.”
Ravi Singh Vice President and Head of Research-ShareIndia, said: “Dreamfolks services company has the advantage of taking the first step in this business. However, the company faced headwinds due to the pandemic-induced sector problems and the same is reflected in its growth numbers, leading to higher valuations. Though the low asset business model will benefit the company in the long run. The GMP already reflects the response it could get on a trading day. If sentiment in the secondary market improves, the IPO may gain momentum in the primary market as well. We expect the IPO to trade at a premium, about 20-30 percent higher than the price range between Rs. 380 – 412.”
The expert opinions and investment tips in this News18.com report are their own and not the website’s or its management. Users are advised to contact certified experts before making any investment decisions.
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