DreamFolks Services’ IPO to kick off on Aug 24

New Delhi, Aug 18: The initial share-sale of airport service aggregator platform DreamFolks Services Ltd will open for public subscription on August 24.
The three-day public issue would conclude on August 26 and the bidding for anchor investors would open on August 23, according to the red herring prospectus (RHP).
The initial public offer (IPO) is entirely an offer for sale 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 an enhanced airport experience for passengers, leveraging its technology-driven platform.
The company’s asset-light business model integrates global card networks operating in India, credit card and debit card issuers and other corporate clients, including airline companies, with various airport lounge operators and other airport-related service providers on a unified technology platform.
It facilitates consumers’ access to the airport-related services like lounges, food and beverages, spa, meet and assist airport transfer, transit hotels or nap room access, and baggage transfer services.
DreamFolks’ revenue from operations increased from Rs 98.7 crore during fiscal 2017 to Rs 367.04 crore in fiscal 2020, at a compound annual growth rate of 55 per cent.
Equirus Capital and Motilal Oswal Investment Advisors are the book running lead managers to the issue. (PTI)