Dreamfolks Services raises Rs 253 cr from anchor investors ahead of IPO

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Airport Service aggregator platform Dreamfolks Services Ltd on Tuesday raised Rs 253 crore from 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 Limited are among the .


The company has decided to allot 7.76 crore shares to at a price of Rs 326 apiece, aggregating the transaction size to Rs 253 crore, according to a circular on BSE’s website.


The Initial Public Offering (IPO) is entirely an Offer-For-Sale (OFS) of up to 1.72 crore equity shares by promoters — Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav.


The public issue will constitute 33 per cent of the post offer paid-up equity share capital of the company.


The share sale, with a price band of Rs 308-Rs 326 apiece, will open for public subscription on August 24 and conclude on August 26.


DreamFolks facilitates consumers’ access to airport-related services like lounges, food and beverages, spa, meet and assist airport transfer, transit hotels or nap room access, and baggage transfer services.


The company’s revenue from operations increased from Rs 98.7 crore during fiscal 2017 to Rs 367.04 crore in fiscal 2020 at a compounded annual growth rate of 55 per cent.


Equirus Capital and Motilal Oswal Investment Advisors are the book running lead managers to the issue.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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