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DreamFolks Services IPO Shares Launch At Rs 509

The shares started at Rs 505 on the BSE, versus the issue price of Rs 326, while the NSE opened at Rs 508.70

On September 6, airport service aggregator platform DreamFolks Services opened with a robust 56 percent gain, above experts’ projections, and a grey market premium of 30-40 percent.

The shares started at Rs 505 on the BSE, versus the issue price of Rs 326, while the NSE opened at Rs 508.70.

Investor confidence was reinforced by a healthy IPO subscription, strong market circumstances, leadership in the airport lounge aggregation industry, and an asset light business strategy.

The Rs 562-crore IPO had a robust reaction from investors, with 56.68 times subscriptions received between August 24-26. It was purely a shareholder offer to sell. The offer price range was Rs 308-326 per share.

DreamFolks Services is a market leader and the largest airport service aggregator platform in India. The firm allows access to airport-related amenities such as lounges, food and beverages, spas, and pick-up and drop-off services.

Most analysts gave the offering a subscribe rating, citing strong market share and early mover advantage in the industry.

As the airline sector recovers from the uncertainty of Covid-19, Vikrant Kashyap of KRChoksey Research believes the firm is well-positioned for future development prospects because of its market domination.

In addition, the company has been growing its position in the worldwide air lounge sector. Kashyap believes that increasing collaborations with card issuers and other service providers would help the firm thrive in local and international lounge services. As a result, he received a subscribe rating on the subject.