Dreamfolks Services Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 12,931,777 (75%) | — | ₹42,158 Cr |
| NII (HNI) | — | 2,586,355 (15%) | — | ₹8,432 Cr |
| Retail | — | 1,724,236 (10%) | — | ₹5,621 Cr |
| Σ Total | — | 17,242,368 (100%) | — | ₹562,101 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 46 | ₹14,996 |
| Retail (Max) | 13 | 598 | ₹194,948 |
| S-HNI (Min) | 14 | 644 | ₹209,944 |
| B-HNI (Min) | 67 | 3,082 | ₹1,004,732 |
Financial Statements Amount in Crore
| Metric | 31-Mar-20 | 31-Mar-21 | 31-Mar-22 |
|---|---|---|---|
| Revenue | 368 | 108 | 284 |
| Profit After Tax | 32 | -1 | 16 |
| Net Worth | 66 | 64 | 82 |
| Total Assets | 138 | 123 | 169 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- The company will not directly receive any proceeds from the Offer and the entire Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer. –
Company Overview
DreamFolks is a dominant player and India's largest airport service aggregator platform, an incubator of the industry with its unique, asset light, capital efficient business model. 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 Limited, Axis Bank Limited, Kotak Mahindra Bank Limited, HDFC Bank Limited (in respect of debit card lounge program) and SBI Cards and Payment Services Limited. DreamFolks carefully crafted a service proposition and a tech platform to provide DreamFolks clients (such as card network providers, banks, airline operators and hotels) the option of offering a wide-ranging bouquet of services to their end customers, as part of their customer engagement and loyalty management programs. It provides with access to a host of services: from door-step to the airport, within the airport, and again from the airport to the door-step at the destination, including Lounges, Food and Beverage, Spa, Meet and Assist, Airport Transfer, Transit Hotels/Nap Room access, and Baggage Transfer.
DreamFolks' dominant position is underpinned by its estimated market share of over 95% in Fiscal 2022 of all India issued Card Based access to domestic lounges in India (F&S Report). DreamFolks has 50 Clients including the Card Networks and many of India's prominent Card Issuers as of March 31, 2022, and 9.79 million (97.9 lakh) pax (people or passengers), cumulatively, had availed of its services, since Fiscal 2020. Through its partnerships with other service providers, DreamFolks has a global footprint extending to 1,416 touch-points in 121 countries across the world out of which, 244 Touch-points are present in India and 1,172 touch-points overseas, as at March 31, 2022. Out of the total estimated pax of 75 lakh accessing lounges in India in FY20 (pre-pandemic), 48.8 pax did so through DreamFolks' network. In FY22 (pandemic year), DreamFolks facilitated access to 35.3 lakh out of a total of 52 lakh pax accessing lounges in India.
DreamFolks' first mover advantage in the lounge access aggregator industry in India has enabled it to become a dominant player in the industry with a share of over 80% in the domestic lounge access market in India. DreamFolks' dominance is underpinned by facilitating access to 100% of the 54 lounges currently operational in India (Source: F&S Report). DreamFolks' has tied up with various entities to facilitate access to around 57 restaurants / F&B outlets at 18 airports across India, as at March 31, 2022. Over the years, the company has transformed from being an airport lounge access aggregator to an end-to-end technology solutions provider for designing and delivering services that enhance the airport experience.