Dreamfolks gives 56% return on Listing Day: Listed at Rs 508 up by Rs 182, issue price was Rs 326

Airport Service Aggregator Platform DreamFolks Services IPO Shares Debut With 56% Premium At Rs 508

Dreamfolks gives 56% return on Listing Day: Listed at Rs 508 up by Rs 182, issue price was Rs 326

The IPO of airport service aggregator platform Dreamfolks Services has been listed on the stock exchange today i.e. on Tuesday (September 6). The listing (debut) of Dreamfolx's stocks in the market has been spectacular. The stock of this company was listed on NSE at Rs 508 with a premium of more than 56%.
The initial public offering (IPO) of Dreamfolks has an issue price of Rs 326 per share. Accordingly, investors have got a profit of Rs 182 i.e. more than 56% return on the listing day itself. Dreamfolks' (IPO) was open for subscription for 3 days i.e. between August 24 and 26. Its IPO was subscribed 56.68 times till the last day.
According to exchange data, the IPO of Dreamfolks received bids for 53,74,97,212 shares as against 94,83,302 shares. The post-offer paid-up equity share capital of the Public Issue Company is 33%. DreamFolks had raised Rs 253 crore from anchor investors before its IPO that opened on August 24, 2022, and was priced in the range of Rs 308-326 per share.
On its very first day in the stock market, Dreamfolks disclosed its financial results for the first quarter that ended June 2022. The company had a loss of 1.4 crores in the first quarter a year ago. In comparison, now the consolidated net profit of the company in the first quarter of this year is Rs 13.4 crore.
Meanwhile, its revenue from operations grew from Rs 245 crore year-on-year (YoY) to Rs 160 crore during Q1 FY23. Its EBITDA has increased to 19 crores. While the EBITDA loss in the corresponding quarter last year was Rs 1 crore and the EBITDA margin was 12% during the quarter under review.
Dreamfolks facilitates the best airport experience for its passengers through its technology-driven platform. The company's asset-light business model is associated with global and domestic networks, credit card-debit card issuers and other corporate clients including airline companies. Apart from this, the company works on a unified technology platform with several airport lounge operators and airport-related service providers.
Dreamfolks is a major player and India's largest airport service aggregator platform. It has a share of over 80% in the domestic lounge access market. As of 31 March 2022, Dreamfolks had 50 clients including the card network and several major card issuers in India.
From the financial year 2020 to 31 March 2022, 9.79 million clients had availed of its service. The company provides airport-related services to the consumer such as lounge, food and beverages, spa, meet and assist airport transfer, transit hotel or nap room and baggage transfer services.

For Latest Update from Sangri Today Like us on Facebook and Follow on Twitter. Fore Latest Video News Subscribe our channel on YOUTUBE. Also Join Our Telegram Channel