Home / Markets / Ipo /  DreamFolks Services IPO: What GMP signals after strong subscription

DreamFolks IPO: Bidding for initial public offering (IPO) of Dreamfolks Services Limited is over and the IPO worth 562.10 crore has been subscribed 56.68 times whereas its retail portion has been subscribed 43.66 times in three day bidding from 24th August to 26th August 2022. After strong response by retail and other category investors, grey market premium (GMP) of DreamFolks Services IPO has surged and breached three digit figure today. According to market observers, shares of DreamFolks Services Limited are available at a premium of 102 per equity share in grey market today.

DreamFolks IPO GMP today

As per the market observers, DreamFolks IPO GMP today is 102, which is quite praiseworthy as the grey market price of the stock has remained above 100 for last three days after breaching the three digit figure on Friday. They said that the trend reversal in secondary market has done the trick for the public issue. However, strong response by bidders has played a vital role in sharp upside movement in DreamFolks IPO GMP. They said that if the positive trend continues in the market then there can be some more upside expected in the DreamFolks IPO GMP.

What this DreamFolks IPO GMP means?

Market observers maintained that DreamFolks IPO GMP today is 102 that means grey market is expecting that DreamFolks IPO listing would take place around 428 ( 326 + 102), which is around 31 per cent higher from its price band of 308 to 326 per equity share. They said that grey market is signaling that DreamFolks IPO may list at a premium of more than 30 per cent on its listing date which is most likely on 6th September 2022.

However, stock market experts maintained that GMP is not an ideal indicator about the listing premium that one can expect from a public issue. They said that GMP has nothing to do with the balance sheet of the company and hence one should not blindly rely on it. They advised applicants to rely on the balance sheet of the company as it gives concrete fundamental picture of the public issue.

DreamFolks IPO details

DreamFolks Services IPO is proposed to list on both NSE and BSE and the tentative listing date of the public issue is 6th September 2022. DreamFolks IPO allotment date is most likely on 1st September 2022.

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Asit Manohar

Chief Content Producer at Live Mint Digital Team
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