DreamFolks debuts at 56% premium on bourses DreamFolks Services, an airport service aggregator platform, made a positive debut on Tuesday, with the stock listing at Rs 508 per share on NSE, a premium of more than 56% to its issue price of Rs 326. The company’s IPO, an offer for sale by existing shareholders, was subscribed 56.68 times, with bids for 537.4 million shares against 9.48 million shares on offer. It had raised Rs 253 crore from anchor investors ahead of its public issue Also read: Investing in Commercial Real Estate: Pros and cons, tax implications explained “The company has a strong business revenue potential over next decade on the back of healthy air traffic growth, increasing issuance of credit cards and better awareness of usage of cards for lounges and higher penetration from current low level of about 5%,” said a pre-IPO note by Reliance Securities. DreamFolks Services is a dominant player and India’s largest airport service aggregator platform having a unique, asset light, capital efficient business model. The company provides services to all the card networks operating in India including Visa, MasterCard, Diners/Discover and RuPay and many of India’s prominent card issuers including ICICI Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank and SBI Cards. Also read: Kotak Mahindra Bank Credit Card, Debit Card user? Here’s a chance to experience KBC 14 With 100% coverage across all 54 airport lounges operational in India, DreamFolks has a market share of over 95% of all India issued card based access to domestic lounges in India. In FY22, DreamFolks facilitated access to 35.3 lakh out of 52 lakh passengers accessing lounges in India, with a 68% total share, according to ICICI Securities.
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FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.