Home / Markets / Ipo /  DreamFolks Services IPO to open on 24 Aug, public offer entirely OFS
Listen to this article

India's largest airport service aggregator platform, DreamFolks Services will be launching its initial public offering (IPO) on August 24. The IPO will be available for three days for investors to subscribe and to end on August 26. Anchor investors will be allowed to bid for the IPO on August 23, the day ahead of the opening.

The IPO is entirely an offer for sale through which the company's promoters will offload 1.72 crore equity shares. The public issue will constitute 33% of the post-offer paid-up equity share capital of the company, as per a PTI report.

The promoters are Liberatha Peter Kallat, Dinesh Nagpal, and Mukesh Yadav.

Companies like Equirus Capital and Motilal Oswal Investment Advisor are acting as the book-running lead manager (BRLM) for the IPO.

DreamFolks Services is a dominant player and India's largest airport service aggregator platform facilitating an enhanced airport experience to passengers leveraging a technology-driven platform. It facilitates customers of Clients’ (Consumers) access to airport-related services such as lounges, food and beverage, spa, meet and assist, airport transfer, transit hotels /nap room access, and baggage transfer, (collectively, the Services).

It began operations in 2013 by facilitating lounge access services for the Consumers of Mastercard and, currently, provides services to all the Card Networks operating in India including Visa, Mastercard, Diners/Discover and RuPay, and many of India’s prominent Card Issuers including ICICI Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank (in respect of debit card lounge program) and SBI Cards and Payment Services.

DreamFolks Services, over the years, has transformed from being an airport lounge access aggregator to an end-to-end technology solutions provider for designing and delivering services that enhance the airport experience.

The company's net worth is around 64.7 crore as of September 31, 2021. It had a revenue of 85.1 crore in September 2021 quarter --- lower than the revenue of 105.6.33 crore in FY21 and 367.04 crore in FY20. Net profit was at 1.1 crore by September 2021 quarter against a loss of 1.45 crore in FY21.

The company filed for an IPO on January 24 this year.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Post your comment

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout