DreamFolks shares rise 56% over the IPO price

6 Sep 2022 , 11:56 AM

Despite the weak market trend, DreamFolks shares were listed on the stock markets today at a price higher than the IPO price.
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The company’s shares started trading at Rs508 per share on the NSE, up 56% from the IPO price of Rs326 per share, and at Rs505 per share on the BSE, up 55%.
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The company’s market capitalization was Rs2,638.63 crore at the time of listing. From August 24-26, the company opened its Rs562 crore Initial public offering (IPO), which was lapped up by all types of investors. The IPO was subscribed by 56.68 times. The company won’t get any money from the IPO proceeds as it was purely an Offer For Sale (OFS).

DreamFolks offers travelers access to lounges, food and beverage options, spa services, and many more amenities. Although the company’s asset-light business model is viewed favorably, any disruption to air travel within the nation could pose a serious threat to DreamFolks’ prospects.

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