Dreamfolks Services’ shares made a successful stock market debut on Tuesday when they listed at a premium of more than 56% above its IPO issue price of 326 per share, or 508 per share, on the NSE. Shares of Dreamfolks Services began trading at 505 on the BSE.

On the final day of the subscription period, which ended on August 26, 56.68 times were subscribed to DreamFolks Services’ three-day initial public offering (IPO). According to exchange data, the issuance attracted bids for 53,74,97,212 of the 94,83,302 shares that were offered.

Promoters Liberatha Peter Kallat, Dinesh Nagpal, and Mukesh Yadav offered 1,72,42,368 equity shares for sale in the inaugural share offering. 33% of the company’s post-offer paid-up equity share capital was made up by the public issuance.

Before its August 24, 2022 opening and price range of 308-326 per share, DreamFolks Services had raised Rs 253 crore from anchor investors.

Using its technology-driven platform, DreamFolks helps passengers have a better airport experience. Using a single technological platform, the company’s asset-light business strategy links domestic and international networks, credit card and debit card issuers and other corporate clients, including airline companies, with a variety of airport lounge operators and other service providers for airports.

With a market share of more than 80% in the domestic lounge access market, DreamFolks is a significant player and India’s largest airport service aggregator platform, enabling customers to enjoy an improved airport experience thanks to a technology-driven platform.

Dreamforks has 50 clients as of March 31, 2022, including many of India’s top card issuers and card networks. 9.79 million Paxes had used their services overall from Fiscal 2020 as of March 31, 2022.