Bookbuilding IPO | ₹562 Cr | Listed at BSE, NSE | Wed, Aug 24, 2022 - Fri, Aug 26, 2022
Dreamfolks IPO is a book build issue of ₹562.10 crores. The issue is entirely an offer for sale of 1.72 crore shares of ₹562.10 crore.
Dreamfolks IPO bidding started from Aug 24, 2022 and ended on Aug 26, 2022. The allotment for Dreamfolks IPO was finalized on Sep 1, 2022. The shares got listed on BSE, NSE on Sep 6, 2022.
Dreamfolks IPO price band is set at ₹326 per share. The lot size for an application is 46. The minimum amount of investment required by an retail is ₹14,996 (46 shares) (based on upper price). The lot size investment for sNII is 14 lots (644 shares), amounting to ₹2,09,944, and for bNII, it is 67 lots (3,082 shares), amounting to ₹10,04,732.
Equirus Capital Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Dreamfolks IPO RHP for detailed Information.
IPO Open
Wed, Aug 24, 2022
IPO Close
Fri, Aug 26, 2022
Issue Price
₹326 per share
Market Cap (Pre-IPO)
₹1,703.35 Cr
| IPO Date | 24 to 26 Aug, 2022 |
| Listed on | Tue, Sep 6, 2022 |
| Face Value | ₹2 per share |
| Price Band | ₹308 to ₹326 |
| Issue Price | ₹326 per share |
| Lot Size | 46 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,72,42,368 shares (agg. up to ₹562 Cr) |
| Offer for Sale | 1,72,42,368 shares of ₹2 (agg. up to ₹562 Cr) |
| Share Holding Pre Issue | 5,22,50,000 shares |
| Share Holding Post Issue | 5,22,50,000 shares |
| BSE Script Code / NSE Symbol | 543591 / DREAMFOLKS |
| ISIN | INE0JS101016 |
Dreamfolks IPO offers total 1,72,42,368 shares. Out of which 1,29,31,777 (75.00%) allocated to QIB, 51,72,711 (30.00%) allocated to QIB (Ex- Anchor), 25,86,355 (15.00%) allocated to NII 17,24,236 (10.00%) allocated to RII and 77,59,066 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,29,31,777 (75.00%) | NA |
| − Anchor Investor Shares Offered | 77,59,066 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 51,72,711 (30.00%) | NA |
| NII (HNI) Shares Offered | 25,86,355 (15.00%) | NA |
| − bNII > ₹10L | 17,24,236 (10.00%) | 2,677 |
| − sNII < ₹10L | 8,62,119 (5.00%) | 1,338 |
| Retail Shares Offered | 17,24,236 (10.00%) | 37,483 |
| Total Shares Offered | 1,72,42,368 (100.00%) |
Investors can bid for a minimum of 46 shares and in multiples thereof.
| 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 |
Dreamfolks IPO raises ₹252.95 crore from anchor investors. Dreamfolks IPO Anchor bid date is August 23, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Aug 23, 2022 |
| Shares Offered | 77,59,066 |
| Anchor Portion (₹ Cr.) | 252.95 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Oct 1, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Nov 30, 2022 |
DreamFolks is a dominant player and India's largest airport service aggregator platform, an incubator of the industry with its unique, asset light, capital efficient business model. DreamFolks' 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 Limited, Axis Bank Limited, Kotak Mahindra Bank Limited, HDFC Bank Limited (in respect of debit card lounge program) and SBI Cards and Payment Services Limited. DreamFolks carefully crafted a service proposition and a tech platform to provide DreamFolks clients (such as card network providers, banks, airline operators and hotels) the option of offering a wide-ranging bouquet of services to their end customers, as part of their customer engagement and loyalty management programs. It provides with access to a host of services: from door-step to the airport, within the airport, and again from the airport to the door-step at the destination, including Lounges, Food and Beverage, Spa, Meet and Assist, Airport Transfer, Transit Hotels/Nap Room access, and Baggage Transfer.
DreamFolks' dominant position is underpinned by its estimated market share of over 95% in Fiscal 2022 of all India issued Card Based access to domestic lounges in India (F&S Report). DreamFolks has 50 Clients including the Card Networks and many of India's prominent Card Issuers as of March 31, 2022, and 9.79 million (97.9 lakh) pax (people or passengers), cumulatively, had availed of its services, since Fiscal 2020. Through its partnerships with other service providers, DreamFolks has a global footprint extending to 1,416 touch-points in 121 countries across the world out of which, 244 Touch-points are present in India and 1,172 touch-points overseas, as at March 31, 2022. Out of the total estimated pax of 75 lakh accessing lounges in India in FY20 (pre-pandemic), 48.8 pax did so through DreamFolks' network. In FY22 (pandemic year), DreamFolks facilitated access to 35.3 lakh out of a total of 52 lakh pax accessing lounges in India.
DreamFolks' first mover advantage in the lounge access aggregator industry in India has enabled it to become a dominant player in the industry with a share of over 80% in the domestic lounge access market in India. DreamFolks' dominance is underpinned by facilitating access to 100% of the 54 lounges currently operational in India (Source: F&S Report). DreamFolks' has tied up with various entities to facilitate access to around 57 restaurants / F&B outlets at 18 airports across India, as at March 31, 2022. Over the years, the company 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.
| Period Ended | 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 |
| Amount in ₹ Crore | |||
| KPI | |
|---|---|
| ROE | 19.78 |
| ROCE | 23.99 |
| Debt/Equity | 0.02 |
| RoNW | 19.78 |
| PAT Margin | 5.75% |
| EBITDA Margin | 8.46% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.11 | |
| P/E (x) | 104.82 | |
| Promoter Holding | 100% | 67% |
| Market Cap | ₹1,703.35 Cr. |
The Dreamfolks Services IPO is subscribed 56.68 times on August 26, 2022 5:00:00 PM (Day 3). The public issue subscribed 43.66 times in the retail category, 70.53 times in the QIB category, and 37.66 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 70.53 | 51,72,711 | 36,48,13,442 |
| NII | 37.66 | 25,86,355 | 9,74,04,448 |
| bNII (bids above ₹10L) | 40.94 | 17,24,236 | 7,05,92,060 |
| sNII (bids below ₹10L) | 31.1 | 8,62,119 | 2,68,12,388 |
| Retail | 43.66 | 17,24,236 | 7,52,79,322 |
| Total | 56.68 | 94,83,302 | 53,74,97,212 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs (including underwriting commission) | 18.28 |
| 2 | Brokerage, selling commission, upload fees, processing fees and bidding charges for the members of the Syndicate, Registered Brokers, SCSBs, RTAs and CDPs | 2.05 |
| 3 | Fees payable to legal advisors | 1.27 |
| 4 | Listing fees, SEBI and Stock Exchanges processing fees, book building software fees and other regulatory expenses | 2.91 |
| 5 | Printing and dispatch of Offer stationery expenses | 1.21 |
| 6 | Advertising and marketing expenses for the Offer | 2.26 |
| 7 | Miscellaneous (fees paid to auditor, fees paid to F&S, travel and other expenses) | 1.83 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹326.00 | ₹326.00 |
| Open | ₹505.00 | ₹508.70 |
| Low | ₹448.50 | ₹448.00 |
| High | ₹550.00 | ₹549.00 |
| Last Trade | ₹462.65 | ₹462.40 |
Lead Manager Reports
Dreamfolks IPO is a main-board IPO of 1,72,42,368 equity shares of the face value of ₹2 aggregating up to ₹562 Crores. The issue is priced at ₹326 per share. The minimum order quantity is 46.
The IPO opens on Wed, Aug 24, 2022, and closes on Fri, Aug 26, 2022.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Dreamfolks IPO using UPI as a payment gateway. Zerodha customers can apply in Dreamfolks IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Dreamfolks IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Dreamfolks IPO opens on Wed, Aug 24, 2022 and closes on Fri, Aug 26, 2022.
Dreamfolks IPO lot size is 46, and the minimum amount required for application is ₹14,996.
You can apply in Dreamfolks IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Dreamfolks IPO will be done on Thursday, September 1, 2022, and the allotted shares will be credited to your demat account by Mon, Sep 5, 2022. Check the Dreamfolks IPO allotment status.
The Dreamfolks IPO listing date is on Tue, Sep 6, 2022.
