DreamFolks shares listed on the stock exchanges today at a premium to the IPO price amid the tepid market momentum. Shares of the company began trading on the NSE at Rs 508 per share, up 56% from the IPO price of Rs 308-326 apiece per share and on the BSE the stock debuted at Rs 505 apiece, rising 55 per cent. At the time of listing, the company had a market capitalisation of Rs 2,638.63 crore. The company launched its Rs 562 crore initial public offering (IPO) from August 24-26 and received strong demand across investor categories. The IPO was subscribed 56.68 times. The DreamFolks Services IPO was entirely an Offer For Sale (OFS) by existing shareholders, hence the company will not get funds from the IPO.

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DreamFolks’ provides services to all the card networks operating in India including Visa, MasterCard, Diners/Discover and RuPay and many of India’s prominent card issuers including ICICI Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank and SBI Cards. DreamFolks has planned to replicate its deep knowledge of the industry, technology innovation, process expertise and business model across new high growth markets/sectors.

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After the decent listing of Syrma SGS, the primary market has picked up the momentum. DreamFolks IPO received huge subscriptions across all the categories. Analysts say that despite being aggressively priced, an attractive business model has captivated the interest of investors. Abhay Doshi, Founder, UnlistedArena.com, dealing in Pre-IPO & Unlisted Shares had expected a listing of over 25-30% premium.

Rajesh Singla, CEO and Founder of Planify Capital told FinancialExpress.com said DreamFolk services is India’s largest Airport services aggregator platform, leveraging a technology driven platform. Singla added that DreamFolks’ dominance is underpinned by facilitating access to 100% of 54 lounges currently operational in India and they enjoy market share of 95% of all India issued Credit and Debit card access to airport lounges in Fiscal 2022. “Company’s price per share can gain momentum if institutional buying comes in the stock. Investors who got the allotment should hold on to the stock for further gains,” Rajesh Singla, CEO and Founder of Planify Capital.