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Dreamfolks Services raises Rs 253 Crore from anchor investors


By PTI IST (Released)

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The company has decided to allot 7.76 crore shares to anchor investors at a price of Rs 326 a piece, aggregating the deal size to Rs 253 crore, according to a circular on the BSE website.

Airport services aggregation platform Dreamfolks Services Ltd on Tuesday raised Rs 253 crore from lead investors ahead of its initial share sale which will open for public subscription on Wednesday.

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 are among the pillars investors.

The company has decided to allot 7.76 crore shares to anchor investors at a price of Rs 326 a piece, aggregating the deal size to Rs 253 crore, according to a circular on the BSE website.

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

The public issue will constitute 33% of the company’s post-offer paid-up share capital. The sale of shares, with a price range of Rs 308-Rs 326 each, will open for public subscription on August 24 and close on August 26.

DreamFolks facilitates consumer access to airport-related services such as lounges, food and beverage, spa, meet and assist airport transfer, transit hotels, or access to nap rooms and baggage transfer services.

The Company’s operating revenue grew from Rs 98.7 crore in FY2017 to Rs 367.04 crore in FY2020 at a compound annual growth rate of 55%.

Equirus Capital and Motilal Oswal Investment Advisors are lead managers for the issue.


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