Dreamfolks Services IPO: Bid for public issue of value during three days 562.10 crore, Dreamfolx Services Limited’s initial public offering (IPO) was subscribed 56.68 times, while its retail portion was subscribed 43.66 times. After the close of the bidding, the focus is now on the date of allotment of IPO and the date of listing of Dreamfolks. Meanwhile, the gray market has turned extremely bullish on the public offering after a strong response from investors. As per market observers, the shares of Dreamfolx Services Limited are available at a premium of 103 in the gray market today.
Dreamfolks IPO GMP
Market Observers said its gray market premium remains up after the close of Dreamfolks IPO bidding 100 per equity share, which is quite commendable. They said that Dreamfolks IPO GMP Today Is 103 and remains above the last four days 100 which indicates a strong list of public issue. Strong investor response and trend reversal on Friday are the key factors that helped the Dreamfox IPO GMP to stay strong despite the past two days being a weekend, he added. If the secondary market continues on the positive side, some more bullish momentum can be expected in the gray market, he added.
What does this Dreamfolks IPO GMP mean?
Market Observers Said Dreamfolks IPO Is GMP Today 103 means the gray market is expecting the Dreamfolks IPO listing to be around 429 ( 326+ 103), which is about 31 per cent higher than its price band from 308 326 per equity share. Market observers further said that the gray market indicates that the Dreamfolks IPO could have a strong listing and the allottees could get around 30 per cent listing premium from the public issue.
However, stock market experts say that GMP should not be taken so seriously as it has nothing to do with the company’s balance sheet. This is purely speculative and it varies on a day to day basis. He advised investors to rely on the company’s balance sheet as it gives a solid fundamental picture of the company for the long term.
Dreamfolks IPO Details
The tentative date for the DreamFolks IPO allotment is 1st September 2022, while it is likely to be listed on BSE and NSE on 6th September 2022.
catch all business News, market news, today’s fresh news events and breaking news Updates on Live Mint. download mint news app To get daily market updates.