DreamFolks' IPO to open on 24th August

19 Aug 2022 , 12:43 PM

On August 24, public subscription will start for the maiden share sale of airport loung services aggregator DreamFolks Services Ltd. According to the red herring prospectus, the three-day public offering would end on August 26 and the bidding for anchor investors would start on August 23. (RHP).

The promoters, Liberatha Peter Kallat, Dinesh Nagpal, and Mukesh Yadav, are selling up to 1.72 crore equity shares in the first public offering (IPO).

DreamFolks helps passengers have a better airport experience.

A unified technology platform is used by the company’s asset-light business model to integrate international card networks with operations in India, credit card and debit card issuers, and other corporate clients, including airline companies, with various airport lounge operators and other service providers for the airport industry.

Access to lounges, food and drink, spa services, meet and assist airport transfers, transit motels or nap rooms, and baggage transfer services are made easier for customers.

At a compound annual growth rate of 55%, DreamFolks’ operating revenue climbed from Rs 98.7 crore in fiscal 2017 to Rs 367.04 crore in fiscal 2020.

The issue’s book-running lead managers are Motilal Oswal Investment Advisors and Equirus Capital.