Last updated: September 06, 2022, 09:58 AM IST
DreamFolks Services List Price: DreamFolks Services made its debut in D-street today. Shares of the company started trading on the NSE at Rs 508 per share, up 56 percent from the IPO price of Rs 308-326 each and on the BSE, the share debuted at Rs 505 each, up of 55 percent. At the time of listing, the company had a market cap of Rs 2,638.63 crore. The company launched its IPO of nearly Rs562 crore (IPO) from August 24 to August 26 and received strong demand across all investor categories. The IPO had subscribed 56.68 times. Currently, DreamFolks IPO Gray Market Premium (GMP) is around Rs 105.
The private investor (RII) quota was subscribed 43.66 times, the non-institutional investor category 37.66 times and the qualified institutional buyers (QIBs) 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.
What should investors do now?
Santosh Meena, Head of Research, Swastika Investmart Ltd., said: “DreamFolks Ltd. has made its debut at Rs. 508.70 or 56 percent above the issue price. The company’s excellent ranking can be attributed to positive market sentiments, bright prospects for the future and a phenomenal response from investors.The Indian airline industry is on the cusp of exponential growth over the next two decades because of demographic benefits, potential growth in middle-class incomes, rising business travel, lower air travel costs and increased tiered travel. 2 and Tier-3 destinations The company will be one of the biggest beneficiaries of the increasing air traffic 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 was richly priced with a P/E ratio of 104.82 based on FY22 annualized figures. s and the promoters have diluted 33 percent of their stake in the OFS. Those who have applied for listing profits can keep a stop loss of Rs. 457. Only long-term investors with a moderate to high risk appetite are allowed to participate after listing.”
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