Key facts about the DreamFolks IPO

22 Aug 2022 , 09:31 AM

On Wednesday, August 24, Dalal Street will open for subscriptions for the airport service aggregator platform DreamFolks Services’ initial public offering (IPO).
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In its inaugural stake sale, the corporation would offer its shares for sale between Rs308 and Rs326. There is still time to subscribe to the proposed primary offering through August 26. (Friday).
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The promoters, Liberatha Peter Kallat, Dinesh Nagpal, and Mukesh Yadav, are offering up to 1,72,42,368 equity shares with a face value of Rs2 apiece as part of the first public offering (IPO).
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Investors may place a minimum bid of 46 equity shares and thereafter bid in multiples. On August 23, the anchor book will be released.
The issue’s proceeds will be distributed to the selling shareholders in proportion to the offered shares they sold, with no money going to the company directly.
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Using its technology-driven platform, DreamFolks helps passengers have a better airport experience. It currently has no listed peers.
The company’s asset-light business model combines a number of airport lounge operators with international card networks based in India, credit card and debit card issuers, and other corporate clients, including airline corporations.
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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 Rs98.7 crore in fiscal 2017 to Rs367.04 crore in fiscal 2020.
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The business reported total sales of Rs283.99 crore and a net profit of Rs16.25 crore for the fiscal year that ended on March 31, 2022. It earned a revenue of Rs108.11 with a loss of Rs1.45 crore net in the peivous year.
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Qualified institutional purchasers may purchase up to 75% of the total amount offered, with non-institutional investors eligible to purchase up to 15%. Retail investors will receive the final 10% of the share.