Dreamfolks IPO: Bidding for the Initial Public Offering (IPO) of Dreamfolks Services Limited has ended and the IPO price 562.10 crore has been subscribed 56.68 times, while its retail portion has been subscribed 43.66 times in the three-day bidding from August 24 to August 26, 2022. The Gray Market Premium (GMP) of Dreamfolx Services IPO has increased after a strong response from retail and other category investors. And today crossed the three-digit mark. As per market observers, the shares of Dreamfolx Services Limited are available at a premium of 102 per equity share in gray market today.
Dreamfolks IPO GMP Today
According to market experts, Dreamfolks IPO GMP today is 102, which is quite commendable as the gray market price of the stock has remained above 100 for the last three days after breaking the three-digit figure on Friday. He said that trend reversal in the secondary market has played the trick for the public issue. However, strong response from the bidders has been instrumental in the sharp jump in Dreamfolks IPO GMP. If the positive trend in the market continues, some more upside can be expected in the Dreamfox IPO GMP, he added.
What does this Dreamfolks IPO GMP mean?
Market Observers Said Dreamfolks IPO Is GMP Today 102 means the gray market is expecting the Dreamfolks IPO listing to be around 428 ( 326+ 102), which is about 31 percent higher than its price band from 308 326 per equity share. He said the gray market is indicating that the Dreamfolks IPO may list at a premium of over 30 per cent on its listing date, most likely on September 6, 2022.
However, stock market experts said the GMP is not an ideal indicator of the listing premium that can be expected from a public issue. He said that GMP has nothing to do with the balance sheet of the company and hence one should not rely on it blindly. He advised the applicants to rely on the balance sheet of the company as it gives a solid fundamental picture of the public issue.
Dreamfolks IPO Details
The DreamFolks Services IPO is proposed to be listed on both NSE and BSE and the likely listing date for the public issue is 6 September 2022. The DreamFolks IPO allotment date is most likely on 1st September 2022.
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