Dreamfolks Services Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹326
Per ShareLot Size
46 Shares
Minimum Investment
₹14,996
Issue Size
₹0 Cr
Face Value
₹2
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Dreamfolks Services Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
67%
Issue Type
Book Building
ISIN
INE0JS101016
About the Company
The Company is a dominant player and India's largest airport service aggregator platform facilitating an enhanced airport experience to passengers leveraging a technology driven platform. Its asset-light business model integrates Card Networks, Card Issuers and other Corporate Clients with various airport lounge operators and other airport related service providers (collectively, the Operators) on a unified technology platform. The company facilitates customers of Clients' (Consumers) access to the following airport related services (i) lounges, (ii) food and beverage (iii) spa, (iv) meet and assist, (v), airport transfer (vi) transit hotels /nap room access, and (vii) baggage transfer, (collectively, the Services).
Industry Overview
Airport lounges have grown steadily in India over the past 5 years. Any airport with a passenger movement of around 5-6 million a year can accommodate a successful lounge. The top 24 Global Airports average at around 7 lounges per airport. Indian Airports average at around 2 lounges per airport. The Indian lounge market is expected to grow at 4X times of the current market size. India issued Credit/ Debit cards are a primary mode of access the domestic lounges and it accounts to around 80%. In this segment, Dreamfolks holds almost 95%-97% of the domestic India market lounge share.
Company History
Dreamfolks Services Limited was originally incorporated as `Believe Tradelink Private Limited', at New Delhi as a private limited company under the Companies Act, 1956 and received a certificate of incorporation issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana at Delhi (RoC) on April 24, 2008. Subsequently, pursuant to a special resolution passed by the Shareholders of the Company on May 1, 2015, our Company's name was changed to `Dreamfolks Services Private Limited', and a fresh certificate of incorporation dated June 12, 2015, was issued to the Company by the RoC. Thereafter, the Company was converted into a public limited company pursuant to a special resolution passed in the extraordinary general meeting of the Shareholders held on October 20, 2021 and the name of the Company was changed to its present name pursuant to a fresh certificate of incorporation issued by the RoC on November 23, 2021.
Products & Services
- The Company is a dominant player and India's largest airport service aggregator platform facilitating an enhanced airport experience to passengers leveraging a technology driven platform.
Growth Strategy
- Increase wallet share with existing Clients
- Continue to maintain its 100% coverage of airport lounges by expanding its coverage across new airport lounges in India
- Expanding into newer sectors to create customer engagement and provide loyalty management solutions
- Continued focus to expanding its client base in current sectors
- Capitalize on its dominance in the airport lounge access market and target new high growth markets globally
- Continue to invest and leverage its technological platform and ability to offer bespoke solutions and deep integration as a differentiator
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 17,242,368* equity shares of face value of Rs. 2 each (Equity Shares) of Dreamfolks Services Limited (The Company) for cash at a price of Rs. 326 per equity share (including a share premium of Rs. 324 per equity share) (offer price), aggregating to Rs. 562.10 crores* (offer) through an offer for sale (offer for sale), comprising 6,531,200* equity shares aggregating to Rs. 212.92 crores* by Mukesh Yadav, 6,531,200* equity shares aggregating to Rs. 212.92 crores* by Dinesh Nagpal and 4,179,968* equity shares aggregating to Rs. 136.27 crores* by Liberatha Peter Kallat (collectively, selling shareholders). The offer will constitute 33.00% of the post offer paid-up equity share capital of the company. *Subject to finalization of the basis of allotment The face value of the equity shares is Rs. 2 each and the offer price is 163 times the face value of the equity shares.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Dominant player in the airport lounge aggregation industry in India with strong tailwinds;
- Entrenched relationships with marquee Clients including global card network providers in India and prominent Indian and global banks and corporates;
- Strong business moat due to flywheel effect led by Clients and Operators network;
- Ability to capitalize on growing Consumer base with no associated costs of direct Consumer acquisition;
- Asset and human resource light business model with a strong track record of delivering consistent growth;
- The company success is dependent on its long-term relationship with card networks and card issuer financial institutions. This exposes its to risk emanating from the inability to retain its established card networks and card issuer companies as its clients.
- Its success is also dependent on its relationship with airport lounge operators and other airport services providers. This exposes its to risk emanating from the inability to retain its established operators and other airport service providers for the Services.
- Its operations are heavily dependent on the travel industry, in general, and on the air travel industry, in particular.
- COVID-19 has had and may continue to have a material adverse effect on the travel industry and consequently have a potential impact on its business, financial condition and results of operations.
- The company is heavily reliant on a few Clients, and its derive a significant part of its revenue from lounge access related services and from select Clients.