TBM Staff - Mumbai Airport service aggregator platform DreamFolks Services listed with a strong 56 per cent gains on September 6, which was better than analysts’ expectations and grey market premium of 30-40 per cent.
The stock opened at INR 505 on the BSE, against issue price of INR 326, and the opening tick on the NSE (National Stock Exchnage) was INR 508.70.
Healthy initial public offering (IPO) subscription, positive market conditions, leadership in airport lounge aggregation industry, and asset light business model boosted investor confidence.
The INR 562-crore IPO had received strong response from investors, getting subscribed 56.68 times during August 24-26. It was entirely an offer for sale by shareholders.
The price band for the offer was INR 308-326 per share.
The company facilitates access to airport-related services such as lounge, food & beverages, spa, pick up and drop service.
