DreamFolks Services IPO Subscribed 6.09 Times On Day 2
Follow the latest subscription updates from day 2 of DreamFolks Services IPO
DreamFolks Services Ltd.'s Rs 562.10-crore initial public offering continued to see investor demand on the second day of subscription.
The initial share sale of the airport service aggregator platform, opened on Wednesday, was fully subscribed on the first day.
According to the red herring prospectus, this IPO is solely an offer for sale of up to 1.72 crore equity shares by promoters Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav.
It will constitute 33% of the paid-up equity share capital of the company, post the offer. The price band has been fixed at Rs 308-326 apiece.
Liberatha Peter Kallat, chairperson and managing director, will put up 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 that offers a slew of services such as lounge access, food and beverage offerings, spa services, transit hotels, airport transfer services, baggage transfer services and meet and assist services for passengers travelling by air.
Subscription Status: Day 2
The IPO subscribed 6.09 times as of 5:00 p.m. on Aug. 25
Institutional investors: 0.6 times.
Non-institutional investors: 8.40 times.
Retail investors: 19.10 times.
Top Research Reports On DreamFolks Services IPO
Business Strategy, Competitive Strengths, Financials, Key Concerns: HDFC Securities
Investment Rationale, Future Growth Strategies, Risks, Financials: KRChoksey
Key Business Strategies, Competitive Strengths, Financials: Axis Securities
Dominant Player In Airport Lounge Aggregation Industry In India: ICICI Direct