Dreamfolks Services IPO subscribed 56.68 times on final day led by QIBs and retail investors

The Rs 562.1 crore offer received bids for nearly 53.75 crore (53,74,97,212) shares against the issue size of nearly 95 lakh (94,83,302) shares, the data showed.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 70.53 times, while the portion for non institutional investors was subscribed 37.66 times and that of retail individual investors (RIIs) was subscribed 43.66 times, the data showed.

Dreamfolks Services IPO is entirely an offer for sale of up to 1.72 crore (1,72,42,368) equity shares by promoters – Liberatha Peter Kallat, Mukesh Yadav and Dinesh Nagpal, and the company will not receive any proceeds from the offer.

The 3-day IPO opened for subscription on Wednesday, August 24, 2022, and concluded at 5 pm today. It has a price band of Rs 308-326 per share.

Right before the start of the IPO, Dreamfolks Services raised nearly Rs 253 crore (Rs 2,52,94,55,516) from 18 anchor investors.

Dreamfolks Services is the country’s largest airport service aggregator platform facilitating enhanced airport experience to passengers through a technology-driven platform. Its asset-light business model integrates card networks, card issuers and other corporate clients with various airport lounge operators and other airport-related service providers on a unified technology platform.

It facilitates customers of consumers’ access to lounges, food and beverage, spa, meet and assist, airport transfer, transit hotels/nap room access, and baggage transfer.

Going ahead, investors will now look forward to the share allotment date of the issue. The finalisation of the basis of allotment for Dreamfolks Services is expected to take place on Thursday, September 1, 2022, as per the information provided in the RHP.