Dreamfolks IPO gets strong response on Day 2 of subscription. Check details

Published on Aug 25, 2022 01:46 PM IST

On Day 1, the Dreamfolks IPO received bids for 1,85,76,916 shares against 94,83,302 shares on offer, according to data available with the National Stock Exchange.

The Dreamfolks Services IPO will be available for subscription till Friday. (Representative Photo)
The Dreamfolks Services IPO will be available for subscription till Friday. (Representative Photo)

It's the second day of subscription for the initial public offering (IPO) of airport services aggregator Dreamfolks Services Limited. The issue will remain open for subscription till Friday, i.e August 26.

On Day 1, the IPO worth 562.10 crore got fully subscribed. On the second day, the retail portion has been subscribed 9.99 times as per data till 10:34 AM, Mint reported. The stupendous response by the retail investors has also influenced the grey market. According to market observers, the shares are available at a premium of 83 in the grey market.

The market observers told the website that the grey market premium (GMP) of Dreamfolks surged from 60 to 83 in just one day due to strong response from the retail investors.

Grey Market Price is actually a premium amount paid at which the IPO shares are traded before being listed on the stock exchanges. The market observers said that the GMP of 83 today means that the grey market expects the IPO listing to be around 409.

The public issue available for bidding has a price band of 308- 326. On Day 1, the IPO received bids for 1,85,76,916 shares against 94,83,302 shares on offer, according to data available with the National Stock Exchange, PTI reported.

The category for Retail Individual Investors (RIIs) received 7.93 times subscription, while non-institutional investors portion got subscribed 1.39 times and Qualified Institutional Buyers (QIBs) 25 per cent.

Dreamfolks 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.

SHARE THIS ARTICLE ON
  • ABOUT THE AUTHOR

    Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.

SHARE
Story Saved
×
Saved Articles
Following
My Reads
My Offers
Sign out
New Delhi 0C
Thursday, December 08, 2022
Start 15 Days Free Trial Subscribe Now
Register Free and get Exciting Deals