DreamFolks Services, India’s largest airport services aggregator platform, will launch its initial public offering (IPO) on August 24th. The IPO will be available for investors to subscribe for three days and will close on August 26th. Anchor investors are allowed to bid on the IPO on August 23, a day before the opening.
The IPO is solely an offer to sell, through which the company’s founders will sell 1.72 million shares. The public offering will represent 33% of the company’s paid-up share capital after the offering, according to a PTI report.
The organizers are Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav.
Firms such as Equirus Capital and Motilal Oswal Investment Advisor are acting as book-running lead managers (BRLM) for the IPO.
DreamFolks Services is a dominant player and India’s largest airport services aggregator platform, enabling passengers to have an enhanced airport experience by utilizing a technology-driven platform. It facilitates customers of customers (consumers) access to airport-related services such as lounges, food and beverage, spa, meet and assist, airport transfer, transit hotel/bedroom access and baggage transfer (collectively, the Services).
It began operations in 2013 by providing lounge access for Mastercard customers and currently offers services to all card networks operating in India including Visa, Mastercard, Diners/Discover and RuPay, as well as many of India’s leading card issuers , including ICICI Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank (in relation to the Debit Card Lounge program) and SBI Cards and Payment Services.
DreamFolks Services has evolved over the years from an airport lounge access aggregator to a provider of end-to-end technology solutions for the design and delivery of services that enhance the airport experience.
The company’s net worth is approx €64.7 crore as of September 31, 2021. It had sales of €85.1 crore in September quarter 2021 — lower than sales of €105.6.33 crore in FY21 and €367.04 crore in fiscal 2020. Net income was at €1.1 crore through September 2021 quarter against a loss of €1.45 million in FY21.
The company applied for an IPO on January 24 this year.
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