Another IPO opened, can invest till 26 August
Investors are once again getting a chance to invest money in IPO. On Wednesday (August 24), the IPO of airport service aggregator company Dreamfox Services (Dreamfolks Services Limited) has been opened. The company’s IPO will be open for three days to subscribe. Investors can bet on this IPO from August 24 to August 26. According to the information given on the BSE website, the price band for the IPO of Dreamfox Services ranges from Rs 308 to Rs 326.
46 lots of shares
The issue of Dreamfolks Services is purely an offer for sale. Promoters and shareholders of the company will sell their stake. The premium for Dreamfolks Services is available at Rs.75 on August 24 in the gray market. One lot of the company’s IPO is of 46 shares. That is, if you want to buy IPO, then you will get one lot worth Rs 14,996. The band price for retail investors will be Rs 326.
10 per cent for retail investors
Under this IPO, the promoters and shareholders of the company will put up a total of 17,242,368 shares for sale. According to PTI, the size of the company’s IPO could be between Rs 1,000-1,200 crore. According to the company, 75 percent of the shares under the IPO will be reserved for qualified institutional investors. At the same time, 15 percent of the shares will be available for non-institutional investors and 10 percent for retail investors.
When will the allotment happen?
After the close of IPO on August 26, allotment of shares can be done on September 1, 2022. At the same time, the company can be listed on 6 September 2022. As of 31 September 2021, the net worth of the company was Rs 64.7 crore. If we look at the revenue of the company, then its revenue during the quarter of September 2021 was Rs 85.1 crore.
What does the company do
Dreamfox Services is one of the largest airport aggregator platform in the country. It provides airport related services like lounge, food and beverage, spa, meet and assist airport transfer along with baggage transfer facilities to the customers.
As per a report by Axis Capital, Dreamfolx Services has been able to create a bridge between its customers and airport lounge operators in the airport lounge access market. As of March 31, 2022, Dreamfolks had 50 customers including the card network and several major card issuers in India.
