DreamFolks Services IPO To Open On August 24: Check Details

The public issue of DreamFolks Services will launch for public subscription on August 24. The price band for the issue has been fixed at Rs. 308-326 per share. The proposed public issue shall remain open until August 26. The anchor book shall open on August 23, 2022.

The public offering is completely an offer for sale (OFS) of up to 1,72,42,368 shares carrying a face value of Rs. 2 apiece by the company's promoters including Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav.

75% of the issue is reserved for QIBs, 15% for the non-institutional buyers and the remaining 10% for retail investor class.

Investors in the offer can make a bid for a minimum of 46 shares and in multiples thereafter.

Equirus Capital and Motilal Oswal Investment Advisors are the book-running lead managers (BRLM) for the offer, while Link Intime India is the registrar to the issue.

The proceeds from the issue shall not be received by the firm and entirely it would go to the promoters selling stake in the entity.

DreamFolks is a dominant player and India's largest airport service aggregator platform facilitating an enhanced airport experience to passengers leveraging a technology driven platform. The entity facilitate customers access to services like Lounges, Food & Beverage, Spa, Meet & Assist, Airport Transfer, Transit Hotels /Nap Room Access, Baggage Transfer and other services. The company has over the years transformed from being an airport lounge access aggregator to an end-to-end technology solutions provider for designing and delivering services that enhance the airport experience.

During the period between 2017-2020, the company's revenue from operations increased from Rs 98.7 crore to Rs. 367.04 crore, registering a CAGR of 55%. For the fiscal year ended March 2022, the company logged a net profit of Rs. 16.25 crore on the total revenue of Rs. 283.99 crore.