DreamFolks Services, whose initial public offering (IPO) received a robust response during the three-day bidding process, is likely to announce its allotment status on Thursday, September 1.
The company’s asset-light business model integrates global card networks operating in India, credit card and debit card issuers and other corporate clients, including airline companies, with various airport lounge operators.
Dreamfolks has coverage across 54 lounges in both domestic and international airport terminals in Bangalore, Mumbai, Cochin, Ahmedabad and more. It has no listed peers so far.
Last heard, the shares of DreamFolks Services were commanding a premium of Rs 115-120 in the grey market.
The company’s Rs 562-crore IPO was sold in the range of Rs 308-326 per equity share. The issue had received a strong response from all the categories of investors, garnering 56.68 times bids between August 24-26.
The quota reserved for qualified institutional buyers (QIBs) was subscribed a whopping 70.53 times while the ones reserved for non-institutional investors (NIIs) and retailers were subscribed 37.66 times and 43.66 times, respectively.
Brokerages held a positive view of the company. The majority of them suggested subscribing to the issue following its growth prospects and nearly monopoly status.
Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit
https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select DreamFolks Services in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot’ and hit submit
You can also check the allotment status on the online portal of Link Intime India
Private Limited (
https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications, and carries out the allotment process as per the prospectus.
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching, and uploading of refunds, and attending to all investor-related queries after the issue is completed.
1) Go to the web portal of Link Intime India Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Client ID or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit
Bidders who could not get allotment in the IPO may see the initialization of refunds on September 2. Others, who would be allotted shares may see the credit of shares in the demat account by September 5. The listing of the IPO is likely on September 6.
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