DreamFolks Services IPO to list on BSE, NSE today

6 Sept 2022 , 11:42 AM

On September 6, at 10 a.m., Dreamfolks shares will be launched on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). From August 24 to August 26, the company offered its almost Rs562 crore initial public offering (IPO), which saw robust demand from all types of investors. It had been subscribed to 56.68 times over. The current grey market premium (GMP) for DreamFolks' IPO is about Rs105.

Retail investor (RII) quota was subscribed 43.66 times, non-institutional investor (NII) quota 37.66 times, and qualified institutional buyer (QIB) quota 70.53 times. Within hours of the IPO's debut on Wednesday, it had received 1.96 times its initial subscription.

The issue, which is solely a selling offer, has a size of Rs562 crore at the higher end of the Rs308-326 per share price range.

Dreamfolks Services' initial public offering (IPO) had a lot size of 46 shares, which cost Rs14,996. By investing Rs1,94,948 in bids, a single individual investor might purchase up to 13 lots, or 598 shares. The primary managers of the IPO were Motilal Oswal Investment Advisors Pvt Ltd and Equirus Capital Private Limited.

IPO GMP for DreamFolks Services before listing:

Market watchers claim that shares of DreamFolks are currently available in the black market for a premium of Rs110. Market analysts anticipate DreamFolks' share price to be around Rs400 per unit, nevertheless. The listing premium that one might anticipate from a public issue, according to stock market professionals, is not best predicted by GMP. They claimed that GMP had nothing to do with the company's balance sheet and that one should not rely on it blindly. They encouraged applicants to rely on the company's balance sheet since it provides a clear, basic understanding of the public issue.

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