DreamFolks Services IPO Subscribed 1.96 Times On Day 1
Follow the latest subscription updates from day 1 of DreamFolks Services IPO
DreamFolks Services Ltd.'s Rs 562.10-crore initial public offering was fully subscribed on day one.
The initial share sale of the airport service aggregator platform, which opened on Wednesday, was subscribed 1.96 times on the first day, led by demand from retail investors.
The IPO is an offer for sale of up to 1.72 crore equity shares by promoters Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav, according to its red herring prospectus. The offer will constitute 33% of the post offer paid-up equity share capital of the company.
The price band has been fixed at Rs 308-326 apiece.
Of the promoter group, Liberatha Peter Kallat, chairperson and managing director, will put up up to 41.80 equity shares on offer. While directors Mukesh Yadav and Dinesh Nagpal will offer 65.31 lakh equity shares each.
Shareholding Pattern
According to the red herring prospectus, Kallat owns 33% of the total pre-offer paid-up equity share capital. Yadav owns 34% and Nagpal holds a 33% stake in the company.
DreamFolks, based out of Gurugram, Haryana, is an airport services aggregator offering services such as lounge access, food and beverage offerings, spa services, transit hotels, airport transfer services, baggage transfer services and meet and assist services.
Subscription Status: Day 1
The IPO subscribed 1.96 times as of 5:00 p.m. on Aug. 24.
Institutional investors: 0.25 times.
Non-institutional investors: 1.39 times.
Retail investors: 7.93 times.