Airport services aggregator Dreamfolks IPO oversubscribed on Day 1 of bidding

insidetrack IndiaAugust 24, 2022

578 1 minute read

Airport service aggregator Dreamfolks Services Limited’s initial public offering (IPO) opened for subscription. The issue will conclude on Friday, i.e August 26. The IPO has been oversubscribed 1.45 times as of 3.25 pm, the Mint quoted Bombay Stock Exchange data. The retail investors category was overbooked 6.57x and non institutional investors (NII) bid 0.66x, the Bombay Stock Exchange data stated. The IPO is out with a price band of ₹308-326 per share. Earlier, the IPO had received bids for 1,03,46,872 shares against 94,83,302 shares on offer, translating into 1.09 times subscription, according to data available with the National Stock Exchange till 1:48 pm, PTI quoted the NSE website. This comes a day after Dreamfolks Services raised ₹253 crore from the anchor investors. It has decided to allot 7.76 crore shares to the anchor investors at a price of ₹326 per share, the BSE website circular stated. The Initial Public Offering (IPO) is entirely an Offer-For-Sale (OFS) of up to 1.72 crore equity shares by promoters — Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav.The public issue will constitute 33 per cent of the post offer paid-up equity share capital of the company.DreamFolks facilitates consumers’ access to airport-related services like lounges, food and beverages, spa, meet and assist airport transfer, transit hotels or nap room access, and baggage transfer services.The company’s revenue from operations increased from ₹98.7 crore during fiscal 2017 to ₹367.04 crore in fiscal 2020 at a compounded annual growth rate of 55 per cent.Equirus Capital and Motilal Oswal Investment Advisors are the book running lead managers to the issue.(With PTI inputs)

ABOUT THE AUTHOR

Follow the latest breaking news and developments from India and around the world with Hindustan Times’ newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we’ve got you covered.
…view detail

insidetrack IndiaAugust 24, 2022

578 1 minute read

insidetrack India

Power cut left hundreds of homes without supply April 30, 2024
UK Power Networks says power is being restored to 346 properties in Wood Green, north London.
Boy, 14, killed in sword attack April 30, 2024
The teenager dies after a man armed with a sword went on the rampage in north-east London.
Case dropped against 'traumatised' former Met officer April 30, 2024
Novlett Robyn Williams was accused of failing to comply with her sex offender notification rules.
Ex-England cricketer to stand for Galloway's party April 30, 2024
Monty Panesar is among hundreds of MP candidates being lined up by the Workers Party of Britain.
Wimbledon tout jailed for four months April 30, 2024
Oliver Hardiman is sent to prison after he refused to hand over details of associates.

Sensex hits 75,000 mark again in day’s trade April 30, 2024
Benchmark indices sensex and Nifty closed lower on Tuesday because there was a selloff in banking and IT shares in the last hour of the session amidst a mixed trend in global markets. The Sensex dropped by 189 points to reach a closing value of 74,483. The index started with an increase and continued to […]
Agencies
Classroom-turned-pool draws in kids April 30, 2024
UP school principal transforms classroom into a pool to combat low attendance in summer, attracting 65 students at Model Primary School in Tirwa's Mahsaunapur village through innovative thinking and community involvement.
ISHA JAIN
Godrej family seals deal to split group’s assets April 30, 2024
The Godrejs have reached a settlement to split the Rs 59,000-crore ($7 billion) locks-to-land development group to “better align ownership in acknowledgement of the differing visions of the family members”. Adi Godrej and his brother Nadir Godrej will have full ownership of the five publicly listed companies of the Godrej Group, which include Godrej Consumer […]
REEBA ZACHARIAH
Art 39(b) was left vague to help make appropriate future laws: SG April 30, 2024
Solicitor General Mehta extensively quotes B R Ambedkar on economic democracy, Article 39(b), and social welfare state alignment in court, emphasizing the importance of various economic democracy forms and the Constituent Assembly debate.
DHANANJAY MAHAPATRA
‘Unwarranted’: MEA slams Washington Post report on plot to kill Pannun April 30, 2024
The report by The Washington Post alleged that top Indian officials, including former RAW chief Samant Goel, were involved in the Pannun murder-for-hire plot. The report made unwarranted and unsubstantiated claims on a serious matter, as stated by the government on Tuesday in its initial response to the story. The story also revealed the Indian […]
TNN
Russian crude imports cut India’s oil bill by $8bn in FY24 April 30, 2024
India saved $7.9B in 2023-24 oil imports by purchasing discounted Russian crude, impacting deficit. Potential $101-104B oil bill for 2024-25. Russian crude share surged to 36%.
SANJAY DUTTA
IPS officer compulsorily retired gets CAT relief April 30, 2024
The Central Administrative Tribunal (CAT) has nullified the compulsory retirement of IPS officer Gurjinder Pal Singh from service and directed his reinstatement with all related benefits within a period of four weeks. The officer from the 1991 batch was serving as ADG in Chhattisgarh when he was retired involuntarily from service following a raid by […]
TNN
Wheat sale in open market helped FCI borrow 21,000cr less in FY24 April 30, 2024
Government's open market sale of wheat ensures supply stability, reduced FCI borrowings, and aided welfare schemes. FCI aims for 300-310 lakh tonnes procurement this year. Punjab, and Haryana witness good wheat arrival meanwhile the wheat procurement in Madhya Pradesh has been slow so far at 34.6 lakh tonnes despite commencing MSP operations early
DIPAK K DASH
Hardik blames top-order collapse for defeat against Lucknow April 30, 2024
As Mumbai Indians succumbed to their seventh defeat of the season, this time against Lucknow Super Giants, skipper Hardik Pandya said loss of early wickets led to their down fall at the Ekana. After being put in to bat by KL Rahul, MI found themselves tottering at 28 for four after powerplay with pacers Mohsin […]
TOI SPORTS DESK
'Looks like he is...': Langer gives update on Mayank's injury April 30, 2024
With this win, LSG jumped to third place in the standings with 12 points in 10 games, which consisted of six wins and four losses. Batting first, MI posted a total of 144 for 7, with Nehal Wadhera top-scoring with 46 runs. Tim David and Ishan Kishan contributed with unbeaten innings of 35 and 32 […]
TOI SPORTS DESK