Dreamfolks Services IPO Opens today: As the primary markets gear up for the Initial Public Offering of Dreamfolks Services, which is scheduled to hit Dalal Street on Wednesday, 24 August. Airport service aggregator platform Dreamfolks Services Ltd has fixed a price band of Rs 308-326 for all three of its vehicles. Day Initial Public Offering (IPO). The issue will conclude on Friday 26 August. The bidding for anchor investors will open on Wednesday.
Dreamfolks Services IPO: Price Band
According to the BSE website, the Dreamfolks IPO price band has been fixed at Rs 308 to Rs 326 per equity share.
The company raised Rs 253 crore from anchor investors ahead of its initial share sale on Tuesday. According to a circular on the BSE website, the company has decided to allot 7.76 crore shares at a price of Rs 326 to anchor investors, taking the total transaction size to Rs 253 crore.
Dreamfolks Services IPO: Lot Size
Investors can bid for a minimum of 46 equity shares and in multiples thereafter. Up to 75 per cent of the total offer is reserved for qualified institutional buyers and 15 per cent for non-institutional investors. The remaining 10 per cent stake is allotted to retail investors. The company will not receive any income from the offer.
Dreamfolks Services IPO: Share Allocation and Listing
The tentative date for allotment of Dreamfolks IPO is 1st September 2022. The public issue is proposed to be listed on both NSE and BSE. The tentative date for the IPO listing is 6 September 2022.
Dreamfolks Services IPO: Financials
As of March 31, 2022, DreamFork had 50 customers including the card network and several major card issuers in India. From the financial year 2020 to March 31, 2022, 9.79 million PACS had cumulatively availed its services.
Despite asset-light operations, the company has seen volatile cash flows due to high receivables, said Ayush Agarwal, senior research analyst at Swastika Investmart.
Dreamfolks Services IPO: GMP
According to market observers, shares of Dreamfolx Services are available at a premium (GMP) of Rs 62 in the gray market today.
Dreamfolks Services IPO: Should You Invest?
“We recommend subscribing to this IPO on the following parameters: The company is profitable without debt, the travel industry is facing tailwinds after the pandemic, the company has no private equity, the company has a high valuation and it The only point of concern is, the company is the first mover’s advantage as there is no such company India Its peers are present only in China and UK,” Jainum Broking said in an IPO note.
Angel One in its IPO note said: “In terms of valuation, the post-issue P/E works out to 104.8x FY22 EPS (at the upper end of the issue price band). However, many look more to lower profitability mainly due to industry-wide issues led by the pandemic. DFSL has a 95% market share and enjoys an early mover advantage in this segment. It has been an asset-light business model gaining the preference of air travelers. In addition, DFSL has focused on diversifying and enhancing its services portfolio. As such, we have a subscription rating from a medium to long term perspective on this issue.
DreamFolks facilitates an enhanced airport experience for travelers, leveraging its technology-driven platform. The company’s asset-light business model integrates global and domestic networks, credit card and debit card issuers and other corporate customers including airline companies with various airport lounge operators and other airport-related service providers on a single integrated technology platform.
Equirus Capital and Motilal Oswal Investment Advisors are the book running lead managers of the public issue. LINK INTIME INDIA PRIVATE LIMITED is the registrar of the initial share sale.
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