DreamFolks IPO subscribed 1.96 times on first day of offer

The Initial Public Offer (IPO) of airport service aggregator platform DreamFolks Services got fully subscribed within hours of opening on Wednesday and ended the day with 1.96 times subscription. The IPO received bids for 1,85,76,916 shares against 94,83,302 shares on offer, according to data available with the NSE.

The category for Retail Individual Investors (RIIs) received 7.93 times subscription, while non-institutional investors portion got subscribed 1.39 times and Qualified Institutional Buyers (QIBs) 25 per cent.The IPO is entirely an Offer-For-Sale (OFS) of 1,72,42,368 equity shares and has a price range of Rs 308-326 per share.

On Tuesday, DreamFolks Services raised Rs 253 crore from anchor investors. It facilitates consumers’ access to airport-related services like lounges, food and beverages, spa, meet and assist airport transfer, transit hotels or nap room, and baggage transfer services. Equirus Capital and Motilal Oswal Investment Advisors are the managers to the offer.