The initial Public Offer (IPO) of DreamFolks Services was subscribed 56.68 times on August 26, receiving bids for 53,74,97,212 shares against 94,83,302 shares on offer. The QIBs received 70.53 times subscription, the category for retail investors was bid 43.66 times, and NIIs received 37.66 times.
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The initial share sale was entirely an offer for sale (OFS) of 1,72,42,368 equity shares with a price band of Rs 308-326 a share. DreamFolks Services had raised Rs 253 crore from anchor investors ahead of its public issue, which was opened on August 24, 2022. On September 1, 2022, the final allotment of shares of Dreamfolks Services IPO took place; if allotted, then credit of shares to Demat account of the bidder will be done on September 5.
Today, in the grey market, DreamFolks Services’s shares are commanding a premium (GMP) of Rs 80, as per market observers. The company’s shares are expected to be listed on stock exchanges on September 6, 2022. The allotment application can be checked on the registrar’s website or the BSE official website; the registrar’s name is Link Intime India Private Ltd.
As of March 31, 2022, Dreamfolks had 50 Clients, including the Card Networks and many of India’s prominent Card Issuers. Also, 9.79 million Paxes, cumulatively, had availed of their services since the Fiscal year 2020.
