On Tuesday, airport services aggregator Dreamfolks Services Ltd raised Rs 253 crore from lead investors ahead of its IPO, which will open today.

Investors in Societe Generale, BNP Paribas Arbitrage, Saint Capital Fund, Segantii India Mauritius, Kuber India Fund, Smallcap World Fund, Inc, Aditya Birla Sun Life Mutual Fund, Sundaram Mutual Fund, Quant Mutual Fund and PNB Metlife India Insurance Company Ltd.

According to a notice on the BSE website, the company has decided to allocate 7.76 crore shares to anchor investors at Rs 326 per share, in deal size of Rs 253 crore.

The initial public offering (IPO) is entirely an offer for sale (OFS) of up to 1.72 crore shares by promoters Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav.

After the offering, the IPO will represent 33% of the company’s paid-up share capital. Priced at Rs 308 to 326 per share, the share sale will open for IPO on August 24 and close on August 26.

DreamFolks provides consumers with airport-related services such as lounges, dining, spas, pick-up and assistance with airport transfers, transit hotels or nap rooms, and luggage transfer services.

The company’s operating income increased from Rs 98.7 crore in FY17 to Rs 367.04 crore in FY20 at a CAGR of 55%. Equirus Capital and Motilal Oswal Investment Advisors are the book-runners on the issue.