Dreamfolks Services IPO
Dreamfolks Services IPO — date, price band, lot size & details 2022
Dreamfolks Services listed on 6 Sep 2022 at ₹508.7, 56% above the ₹326 issue price.
DreamFolks is India's largest airport service aggregator platform, giving card holders and travellers access to lounges and other airport services. Its total income was Rs 283.99 crore in FY2022.
Stock price
Dreamfolks Services is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 24 Aug 2022
- Close 26 Aug 2022
- Allotment 01 Sep 2022
- Refund/credit 02 Sep 2022
- Listing 06 Sep 2022
Issue summary
The terms of the offer, as filed.
| IPO Dates | 24 to 26 Aug, 2022 |
|---|---|
| Price Band | ₹308 – ₹326 |
| Face Value | ₹2 |
| Lot Size | 46 Shares |
| Issue Size | ₹562.1 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,996 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 46 shares at the ₹326 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 46 | ₹14,996 |
| Retail (max) | 13 | 598 | ₹1,94,948 |
| S-HNI (min) | 14 | 644 | ₹2,09,944 |
| S-HNI (max) | 66 | 3,036 | ₹9,89,736 |
| B-HNI (min) | 67 | 3,082 | ₹10,04,732 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income recovered from Rs 108.11 crore in FY2021 to Rs 283.99 crore in FY2022.
- 02Profit after tax was Rs 16.25 crore in FY2022, after a loss of Rs 1.45 crore in FY2021.
- 03Borrowing was negligible, with debt to equity of 0.02 as per the source.
- 04The source puts return on capital employed at 23.99%.
- 05It works with all the major card networks in India, using an asset-light model with net worth of Rs 82.17 crore.
Risks · 5
- 01The whole Rs 562.10 crore issue was offer for sale by the promoters, so no money went to the company.
- 02The P/E was 104.82 at the upper band of Rs 326, based on EPS of Rs 3.11.
- 03Income depends on air travel and on card lounge programmes, which fell sharply in FY2021 to Rs 108.11 crore.
- 04A few large banks and card networks drive most of the business, and they can change their programmes. The source puts the PAT margin at 5.75%.
- 05Promoter holding fell from 100% before the issue to 67% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Dreamfolks Services offer document.
| Metric | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|
| Assets | 168.68 | 122.50 | 137.76 |
| Total Income | 283.99 | 108.11 | 367.81 |
| Profit After Tax | 16.25 | -1.45 | 31.68 |
| NET Worth | 82.17 | 64.30 | 65.51 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Dreamfolks Services RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Dreamfolks Services IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹3.11 | ₹3.11 |
| P/E Ratio (x) | 104.82 | 104.82 |
| Market Cap at Offer Price (₹ Cr) | ₹1,703.38 | ₹1,703.38 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹326 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Dreamfolks Services IPO will be updated shortly.
About the company
Through it, customers of its clients get access to lounges, food and beverage, spa, meet and assist, and airport transfer services, as part of loyalty and engagement programmes.
Its clients include all card networks operating in India, such as Visa, Mastercard, Diners/Discover and RuPay, and card issuers such as ICICI Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank for debit card lounges, and SBI Cards.
The IPO was Rs 562.10 crore and was entirely an offer for sale by the three promoters, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Dreamfolks Services IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Motilal Oswal Investment Advisors
58 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: R K Swamy (-13.2%).
Equirus Capital Pvt.Ltd.
34 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Dreamfolks Services?
The current Grey Market Premium is ₹85, or 26% over the issue price.
What is the Dreamfolks Services IPO price band?
₹308 to ₹326, on a face value of ₹2.
When is the allotment?
The basis of allotment is 1 September 2022, with listing on 6 September 2022.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
