The IPO is entirely an offer for sale through which the company's promoters will offload 1.72 crore equity shares. The public issue will constitute 33% of the post-offer paid-up equity share capital of the company, as per a PTI report.
The promoters are Liberatha Peter Kallat, Dinesh Nagpal, and Mukesh Yadav.
Companies like Equirus Capital and Motilal Oswal Investment Advisor are acting as the book-running lead manager (BRLM) for the IPO.
DreamFolks Services is a dominant player and India's largest airport service aggregator platform facilitating an enhanced airport experience to passengers leveraging a technology-driven platform. It facilitates customers of Clients’ (Consumers) access to airport-related services such as lounges, food and beverage, spa, meet and assist, airport transfer, transit hotels /nap room access, and baggage transfer, (collectively, the Services).
It began operations in 2013 by facilitating lounge access services for the Consumers of Mastercard and, currently, 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 (in respect of debit card lounge program) and SBI Cards and Payment Services.
DreamFolks Services, over the years, 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.
The company's net worth is around ₹64.7 crore as of September 31, 2021. It had a revenue of ₹85.1 crore in September 2021 quarter --- lower than the revenue of ₹105.6.33 crore in FY21 and ₹367.04 crore in FY20. Net profit was at ₹1.1 crore by September 2021 quarter against a loss of ₹1.45 crore in FY21.
The company filed for an IPO on January 24 this year.
