The company will sell its shares in the range of Rs 308-326 in its initial stake sale. The proposed primary offering is open for subscription till August 26 (Friday).
The IPO is entirely an offer for sale (OFS) of up to 1,72,42,368 equity shares with a face value of Rs 2 each by its promoters Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav.
Investors can make a bid for a minimum of 46 equity shares and in multiples thereafter. The anchor book will open on Tuesday, August 23.
The company will not directly receive any proceeds from the issue and the entire proceeds will be received by the selling shareholders, in proportion to the offered shares sold by them.
DreamFolks facilitates an enhanced airport experience for passengers, leveraging its technology-driven platform. It has no listed peers so far.
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.
It facilitates consumers’ access to airport-related services like lounges, food and beverages, spa, meets 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.
For the year ended on March 31, 2022, the company had reported total revenue of Rs 283.99 crore with a net profit of Rs 16.25 crore. In the previous fiscal, it had clocked a revenue of Rs 108.11 with a net loss of Rs 1.45 crore.
Up to 75 per cent of the total offer is reserved for qualified institutional buyers, and 15 per cent for non-institutional investors. The remaining 10 per cent stake is allocated to the retail investors.
Equirus Capital and
Investment Advisors are the book-running lead managers for the offer, whereas Link Intime India is the registrar to the issue.
