Dreamfolks Services IPO: The last GMP before the issue opens for subscription tomorrow

Airport services aggregation platform Dreamfolks Services Ltd has set a price range of 308-326 for its three-day initial public offering (IPO) which will open for public subscription on Wednesday, August 24, 2022 and issuance will close on Friday, August 26. The tender for lead investors will open on Wednesday.

The Dreamfolks Services IPO is entirely an offer for sale (OFS) of up to 1.72 crore shares by Liberatha promoters Peter Kallat, Dinesh Nagpal and Mukesh Yadav. The public issue will constitute 33% of the company’s post-offer paid-up share capital.

According to market watchers, Dreamfolks Services shares are available at a premium (GMP) of 65 on the gray market today. The company’s shares are expected to list on the major BSE and NSE stock exchanges on Tuesday, September 6, 2022.

DreamFolks facilitates an enhanced airport experience for passengers, leveraging its technology-driven platform. The Company’s light business model integrates global and domestic networks, credit and debit card issuers and other enterprise customers, including airlines, with various airport lounge operators and other service providers. airport-related services on a unified technology platform.

It facilitates consumer access to airport-related services such as lounges, food and beverage, spa, airport meet and assist transfer, transit hotels or access to nap rooms and baggage transfer services.

Equirus Capital and Motilal Oswal Investment Advisors lead the public offering. Link Intime India Private Ltd is the registrar for the initial sale of the shares.

According to Axis Capital’s report, given Dreamfolks Services’ dominant position in the airport lounge access market, they have successfully bridged the gap between their customers and airport lounge operators. Their position in the industry allows them to create interdependencies for their service offerings through their unique value proposition allowing them to attract new customers and operators, which helps them to further strengthen their position in the market.

As of March 31, 2022, Dreamforks had 50 customers, including card networks and many top card issuers in India. As of March 31, 2022, a cumulative 9.79 million Pax had used their services since the 2020 financial year.

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