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DreamFolks Services shares to debut on bourses today — here's what grey market signals

DreamFolks Services shares to debut on bourses today — here's what grey market signals

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By Sandeep Singh  Sept 6, 2022 8:48:22 AM IST (Updated)

DreamFolks IPO Listing: Shares of the airport service aggregator platform will begin their trading journey on BSE and NSE on Tuesday. According to dealers, DreamFolks commanded a premium of as much as Rs 105 in the past few days.

DreamFolks Services shares are all set to debut on stock exchanges BSE and NSE at 10 am on Tuesday, September 6. The Rs 562-crore initial public offer (IPO) of DreamFolks — an airport service aggregator platform — received a strong response across categories of investors, concluding last month with bids for 56.7 times the shares on offer.

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According to dealers, DreamFolks commanded a premium of up to Rs 105 in the grey market — an unofficial market for unlisted securities — ahead of the listing.
DateGrey market premium (in rupees)
Sept 5105
Sept 2100
Sept 195
Aug 31105
Aug 30105
Aug 2980
Aug 2680
Aug 2575
Aug 2475
Aug 2365
(Source: IPO Watch)
"The primary market has gained traction following the commendable listing of Syrma SGS Technology. DreamFolks' business concept is attractive despite aggressive pricing arouses investor interest," Abhay Doshi, Co-Founder of Unlisted Arena — a portal that tracks grey markets and deals in unlisted securities — told CNBCTV18.com.
The DreamFolks IPO, which was open from August 24 and August 26, received bids for a total of 53.7 crore shares as against the 94.8 lakh shares on offer, according to exchange data.
Elixir Equities Director Dipan Mehta told CNBC-TV18 that DreamFolks, in his view, could be a a concept stock as well for investors looking to play the travel theme.
"If you look at the choices around you, apart from hotels and aviation, there is no real stock with which one can play the investment theme as far as rising travel is concerned... Maybe this particular stock could help you get in to that particular investment theme," he said.
Mehta believes that once the stock price settles down following a good listing, "it will be a good company to keep on your radar and on your market watch list".
"Considering the strong interest accompanied by stable broader market conditions, we can expect a very strong listing at a premium of over 25-30 percent," Doshi said.
Under the IPO, which was entirely an offer for sale (OFS) by existing shareholders, potential investors could bid for DreamFolks shares in a price range of Rs 308-326 in multiples of 46. That meant one lot of shares was worth Rs 14,168-14,996 for bidders.
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