Dreamfolks IPO: Shares list at 55 percent premium
There is good news for investors betting on Dreamfolk’s IPO. The company has given strong returns to the investors as soon as it is listed in the market. Shares of Dreamfox Services Limited were listed at a premium of 54.96 per cent today. Compared to the price band, the company’s shares were trading at Rs 505 with an increase of Rs 179.
Share prices fall after listing
Shortly after the listing, the company’s shares saw a fall. Shares of Dreamfolks Services fell at a level of Rs 492.50 at 10:15 am, down 2.48 percent. However, despite this fall, the company’s shares were trading with a gain of Rs 166.50 or 51.07 per cent from the IPO price.
How was the pre-opening session?
Shares of Dreamfolks were also performing well in the pre-opening session. The company’s shares were trading at a premium of 47 per cent in the pre-opening session prior to listing. The shares of Dreamfolks were trading in the gray market at a premium of more than Rs 100 since the share allotment.
The company had raised Rs 253 crore from anchor investors
The Qualified Institutional Buyer (QIB) quota was subscribed 70.53 times in the IPO of Dreamfolks Services. At the same time, 43.66 times the bids were received in the retail investors category. Whereas the bids were received 37.66 times in the Non-Institutional Investors (NII) quota. Dreamfolks Services had raised Rs 253 crore from anchor investors before its public issue. The company’s IPO was open for subscription on 24 August 2022.
How is the financial position of the company
The company’s revenue during the quarter of September 2021 was Rs 85.1 crore. The company had a revenue of Rs 105.6 crore in the financial year 2021. Which is less as compared to FY 2020. Then the revenue of the company was Rs 367.04 crore.
