DreamFolks Services IPO opens today: The first public offering from the airport service aggregator platform DreamFolks Services will be open for subscription today, August 24. The Rs 562 crore IPO consists of a sale offer of up to 1.72 crore shares by the promoters and selling shareholders. Bids can be made on a minimum of 46 shares and thereafter in multiples of 46 shares. The proposed primary offer is open for registration until Friday, August 26.
DreamFolks Services claimed to be India’s largest airport services aggregator platform. It has a low-asset business model that integrates global card networks operating in India, credit and debit card issuers, and other corporate customers, including airlines.
DreamFolks Services IPO: price range
DreamFolks Services has set a price range at Rs 308 and Rs 326 per share for the offering.
DreamFolks Services IPO: lot size
Investors can bid on a minimum of 46 shares and then in multiples of 46 shares. Therefore, retail investors are eligible to apply for minimum shares worth Rs 14,996 per lot, and the maximum investment by them would be Rs 1,94,948 for 13 lots. They are allowed to invest up to Rs 2 lakh in the issue.
DreamFolks Services IPO: objective
Since it is an offer-for-sale issue, DreamFolks Services will not receive any money through IPO. All funds, excluding issuance costs, go to the selling shareholders. The purpose of the offer is therefore only to carry out the offer to sell with the advantages of a stock exchange listing of the shares.
DreamFolks Services IPO: Financials
DreakFolks posted a profit of Rs 16.25 crore for the year ended March 2022, from a loss of Rs 1.45 crore in the previous year, impacted by the second Covid wave, but significantly lower compared to a profit of Rs. 31.68 crore in FY20.
Consolidated operating revenue for FY22 was Rs 282.50 crore, up 167.4 per cent due to the low base in the previous year, while revenue in FY20 was Rs 367 crore.
The lounge fee contributed the vast majority of operating revenue, contributing 98.68 percent in FY22, 97.25 percent in FY21 and 98.82 percent in FY20.
DreamFolks Services IPO: Promoters
It is 100 percent owned by promoters. Liberatha Peter Kallat and Dinesh Nagpal each own 33 percent of the shares in the company and the remaining 34 percent is owned by Mukesh Yadav.
Liberatha Peter Kallat, the company’s chairman and general manager, has extensive experience in the hospitality industry. She has worked with Indian and international multinationals such as Indian Hotels Company.
Other promoters Mukesh Yadav and Dinesh Nagpal are non-executive directors on the board.
Balaji Srinivasan is an executive director on the board while Sharadchandra Damodar Abhyankar, Mario Anthony Nazareth, Aditi Balbir and Sudhir Jain are independent directors.
The company provides airport related services including lounges, food & beverage, spa, meet & assist, airport transfer and baggage transfer.
DreamFolks Services IPO: Share Assignment and Listing Dates
DreamFolks will complete the IPO share allocation by September 1. Thereafter, the refunds will be credited to the bank accounts of unsuccessful investors by September 2 and the eligible investors will receive shares in their Demat accounts by September 5.
On September 6, he will make his debut on the BSE and NSE.
Read the Latest news and Important news here