DreamFolks Services' Initial Public Offering Gets 6 Times Subscription On Day 2

The Initial Public Offer (IPO) of airport service aggregator DreamFolks Services received 6.09 times subscription on the second day of the offer on Thursday.

The IPO received bids for 5,77,86,948 shares against 94,83,302 shares on offer, according to data available with the NSE.

The quota for Retail Individual Investors (RIIs) was subscribed 19.10 times, the category meant for non-institutional investors 8.40 times and Qualified Institutional Buyers (QIBs) 60 per cent.

The IPO of DreamFolks Services got fully subscribed within hours of opening on Wednesday and ended the day with 1.96 times subscription.

The initial public offer is entirely an Offer-For-Sale (OFS) of 1,72,42,368 equity shares.

Price range for the offer is at Rs 308-326 a share.

On Tuesday, DreamFolks Services had raised Rs 253 crore from anchor investors.

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

Equirus Capital and Motilal Oswal Investment Advisors are the managers to the offer. 

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