Dreamfolks Services makes a robust debut, lists 56% greater from challenge value

Dreamfolks Services Share Price: Shares of airport service aggregator platform Dreamfolks Services made a robust debut on Tuesday, getting listed at a premium of over 56 per cent from their challenge value on the inventory exchanges.

The inventory obtained listed at Rs 508.70 apiece on the National Stock Exchange (NSE), thereby registering a achieve of 56.04 per cent from its provide value of Rs 326.00, whereas on the BSE, it opened at Rs 505.00, up 54.91 per cent from the difficulty value.

However, after an preliminary rally within the first jiffy of itemizing, the Dreamfolks Services inventory misplaced its steam and dipped from its itemizing stage. During the primary half-hour of commerce, the shares hit a excessive of Rs 550.00 on the BSE and Rs 549.00 on the NSE and a low of Rs 461.00 on each the bourses.

At 10:30 am, the scrip was buying and selling at Rs 476.55 on the BSE, up 46.18 per cent from the difficulty value whereas on NSE it was at Rs 476.70, up 46.23 per cent. The market capitalisation stood at Rs 2,489.97 crore, information from the BSE confirmed.

Around 1.49 crore shares of Dreamfolks Services have been traded thus far on NSE whereas over 10.18 lakh shares have exchanged arms on the BSE, information from the respective inventory change confirmed.

Dreamfolks Services is India’s largest airport service aggregator platform facilitating enhanced airport expertise to passengers by means of a technology-driven platform. Its asset-light enterprise mannequin integrates card networks, card issuers and different company shoppers with varied airport lounge operators and different airport-related service suppliers on a unified know-how platform.

It facilitates clients of shoppers’ entry to lounges, meals and beverage, spa, meet and help, airport switch, transit motels/nap room entry, and baggage switch.

The IPO was accessible for public subscription from August 24-26, 2022 and obtained subscribed 56.68 instances by the ultimate day.

Reacting to the itemizing, Santosh Meena, Head of Research at Swastika Investmart mentioned, “The company’s superb listing can be attributed to positive market sentiments, bright future prospects, and a phenomenal response from investors. The Indian aviation industry is at the cusp of exponential growth in the next two decades due to its demographic advantages, the potential growth in middle-class income, rising business travel, reduced cost of air travel and increased travel in Tier-2 and Tier-3 destinations. The company will be one of the biggest beneficiaries of the rising air travel in India and due to its first mover advantage and dominant position in the lounge access market, the company is poised to grow exponentially in the future. The issue was richly priced at a P/E of 104.82 based on annualized FY22 numbers and the promoters have diluted 33 per cent of their stake in the OFS. Those who applied for listing gains can maintain a stop loss of Rs 457. Only long-term investors with a moderate to high-risk appetite should enter post-listing.”