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Another entrant to the IPO market in India is the offer from DreamFolks Services Ltd. We at Jobaaj bring to you the details of the company and the IPO to assist you in making your decision.
DreamFolks Services Ltd. is India's largest airport service aggregator platform which facilitates an enhanced airport experience for passengers leveraging a technology-driven platform. They started operations in 2013 and facilitate customers' access to services like Lounges, Food & Beverage, Spa, Meet & Assist, Airport Transfer, Transit Hotels /Nap Room Access, Baggage Transfer, and other services. The company serves several large clients some of which are AirAsia, ClubMahindra, Ease my Trip, and Indigo.
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The IPO is entirely an OFS, meaning that the company will not be receiving anything from the offer. Its promoters will be allowed to sell their holdings via the offer, giving them a chance to exit. The company is 100% held by promoters Liberatha Peter Kallat, Chairman & MD, Dinesh Nagpal holding 33% shareholding each in the company, and the remaining 34% stake is held by Mukesh Yadav.
The offer is sized at Rs 562 crores and over 1.7 crore equity shares will be sold in the price range of Rs 308-326 per share. One lot of the IPO will consist of 46 shares of the company and will cost Rs 14,996 per lot to a retail investor with a maximum limit of Rs 1,94,948.
The company reported revenue from operations of Rs 282.50 crores, up 167% YoY while profit was Rs 16.25 crores for the year ended in March 2022.
This issue has garnered great attention as the company's dominant position owing to its first-mover status, its high market share, its global footprint in over 100 countries abroad and its focus on global expansion make it an attractive investment option.
Moreover, the company's asset-light business model and ever-expanding customer base have brought in several investors as the company managed to amass Rs 253 crores from 18 different anchor investors before its IPO went live.
Furthermore, brokerages are positive on the issue as the entire issue has been oversubscribed 1.45 times with the retail investors category being overbooked 6.57x and NIIs by 0.66x.
The company's zero debt balance sheet, promising business model, and profitable prospects in the traveling industry make DreamFolks Services a good investment!
Article by Aman Agarwal.
This story is brought to you in association with Jobaaj.com
