DreamFolks Services IPO Subscribed 56 Times On Strong Investors Interest GMP Indicates Strong Listing

DreamFolks Services IPO: Syrma SGS Tech had a great listing...

DreamFolks Services IPO: Syrma SGS Tech had a great listing on Friday, while the IPO of airport service aggregator platform DreamFolks Services has received a great response from investors. There was huge enthusiasm among institutional and retail investors regarding the IPO. According to the data on BSE till 5 pm, the IPO of DreamFolks Services has been oversubscribed a total of 56.68 times. Today was the last day of application for IPO.

Great response to IPO
The IPO of DreamFolks Services has been oversubscribed 56 times in which the quota reserved for institutional investors has been filled 70.53 times, for non-institutional investors 37.66 times and for retail investors 43.66 times. The company had issued 94,83,302 shares for application in the IPO, for which applications have been received for 53,74,97,212 shares. Let us tell you that the company has raised Rs 253 crore from anchor investors. Looking at the financial condition of DreamFolks Services, the company’s revenue from operations has increased from Rs 98.7 crore in 2017 to Rs 367 crore in 2020. The company has been showing steady growth at the rate of 55 percent.

What is the price band of IPO
The IPO of DreamFolks Services was open from August 24 to August 26, 2022. The company has raised Rs 562 crore from the market through IPO and the price band was fixed at Rs 308 to Rs 326 per share. The shares will be transferred to the demat account of the successful shareholders on September 1. It is believed that the stock may be listed on the stock exchanges on 6 September.

How much is GMP running
In the gray market, the IPO of DreamFolks Services is trading at a premium of Rs 85 to 90. That is, the stock is expected to be listed on the stock exchange around Rs 410 to 415. It is believed that after changing the mood of the stock market on the stock exchange, DreamFolks Services is the second company after Syrma SGS Tech which has brought its IPO in the market.

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