DreamFolks Services Ltd.'s initial public offering was subscribed more than 56 times on the final day, led by demand from institutional investors.
The Rs 562.10-crore IPO of the airport service aggregator platform, that opened on Wednesday, was fully subscribed on the first day. It was subscribed 6.09 times on the second day.
The IPO is solely an offer for sale of up to 1.72 crore equity shares by promoters Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav, according to the red herring prospectus.
It will constitute 33% of the paid-up equity share capital of the company, post the offer. The price band has been fixed at Rs 308-326 apiece.
Chairperson and Managing Director Liberatha Peter Kallat will put up 41.80 equity shares on offer, while directors Mukesh Yadav and Dinesh Nagpal will offer 65.31 lakh equity shares each.
Shareholding Pattern
According to the red herring prospectus, Kallat owns 33% of the total pre-offer paid-up equity share capital. Yadav owns 34% and Nagpal holds a 33% stake in the company.
DreamFolks, based out of Gurugram, Haryana, is an airport services aggregator that provides services such as lounge access, food and beverage offerings, spa services, transit hotels, airport transfer services, baggage transfer services and meet and assist services to passengers travelling by air.
Subscription Status: Day 3
The IPO subscribed 56.68 times as of 5:00 p.m. on Aug. 26.
Institutional investors: 70.53 times.
Non-institutional investors: 37.66 times.
Retail investors: 43.66 times.
Top Research Reports On DreamFolks Services IPO
Business Strategy, Competitive Strengths, Financials, Key Concerns: HDFC Securities
Investment Rationale, Future Growth Strategies, Risks, Financials: KRChoksey
Key Business Strategies, Competitive Strengths, Financials: Axis Securities
Dominant Player In Airport Lounge Aggregation Industry In India: ICICI Direct
Watch BQ Prime's IPO Adda With DreamFolks Services' Management:
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