Dreamfolks Services’ IPO to open on August 24; price band fixed at Rs 308-326 per share

Airport Service aggregator platform Dreamfolks Services Ltd on Monday said it has fixed a price band of Rs 308-Rs 326 for its initial public offering which will open for public subscription on Wednesday.

The initial share sale will open for public subscription on August 24 and conclude on August 26.

The Initial Public Offering (IPO) is entirely an Offer-For-Sale (OFS) of up to 1.72 crore equity shares by promoters — Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav.

The public issue will constitute 33 per cent of the post offer paid-up equity share capital of the company.

The company will allocate up to 60 per cent of the QIB (Qualified Institutional Buyer) portion to the anchor investors on a discretionary basis. Investors can bid for a minimum of 46 equity shares and in multiples of 46 thereafter.

DreamFolks facilitates an enhanced airport experience for passengers, leveraging its technology-driven platform.

Also read: The initial share sale will open for public subscription on August 24 and conclude on August 26

The company’s asset-light business model integrates global and domestic networks, credit card and debit card issuers and other corporate clients, including airline companies, with various airport lounge operators and other airport-related service providers on a unified technology platform.

It facilitates consumers’ access to the airport-related services like lounges, food and beverages, spa, meet and assist airport transfer, transit hotels or nap room access, and baggage transfer services.

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DreamFolks’ revenue from operations increased from Rs 98.7 crore during fiscal 2017 to Rs 367.04 crore in fiscal 2020, at a compounded annual growth rate of 55 per cent.

Equirus Capital and Motilal Oswal Investment Advisors are the book running lead managers to the issue.