DreamFolks Services

The company said one-off abnormal increase in common area maintenance charges has led to increase in lounge cost.

The stock hit a record high of Rs 592.15 in intra-day today, and was trading 82 per cent higher against its issue price of Rs 326 per share.

With Monday's decline, the stock corrected 35 per cent from its listing day high value of Rs 550

IPOs 2022

Thus far in calendar year 2022, Indian companies have raised over 40,000 crore from the primary markets via the IPO route, data from PRIME Database showed.

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The successful listing follows a strong response to the company's maiden share sale, which had garnered nearly 57 times subscription last month

Shares of airport service aggregator DreamFolks Services ended nearly 42 per cent higher in its debut trade on Tuesday against the issue price of Rs 326.
The stock was listed at Rs 505, registering a jump of 54.90 per cent from the issue price on the BSE. During the day, it rallied 68.71 per cent to Rs 550. Shares of the company ended at Rs 462.65 apiece, higher by 41.91 per cent.
On the NSE, the company made its debut at Rs 508.70, a jump of 56 per cent and settled at Rs 462.85 apiece, rallying 41.97 per cent.
In volume terms, 16.52 lakh shares of the company were traded on the BSE and over 2.68 crore shares on the NSE during the day.
The company commanded a market valuation of Rs 2,417.35 crore.
The Initial Public Offer (IPO) of DreamFolks Services was subscribed 56.68 times last month.
The IPO was entirely an Offer-For-Sale (OFS) of 1,72,42,368 equity shares and was priced in the range of Rs 308-326 a share.
The company facilitates consumers' access to airport-related service

markets, investor, stock market, broker, trader

DreamFolks Services made a strong stock market debut as its shares got listed at Rs 508.70, a 56 per cent premium over its issue price of Rs 326 per share on the National Stock Exchange (NSE)

Shares of DreamFolks Services listed at Rs 508.70, a 56 per cent premium when compared with the issue price of Rs 326 per share on the National Stock Exchange (NSE) on Tuesday.

Markets, Stock market, sensex, stock market indices

Stocks to Watch on Tuesday: DreamFloks Services to debut on Tuesday; Reliance Industries acquires majority stake in SenseHawk for $32 mn; Delta Corp in F&O ban.

DreamFolks

Analysts recommend traders to maintain a bullish bias and buy on dips

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The firm has a market share of over 90 per cent of all credit and debit cards that offer airport lounge facilities

On Tuesday, the company raised Rs 253 crore through anchor allotment.

The Initial Public Offer (IPO) of airport service aggregator DreamFolks Services received 6.09 times subscription on the second day of the offer on Thursday.
The IPO received bids for 5,77,86,948 shares against 94,83,302 shares on offer, according to data available with the NSE.
The quota for Retail Individual Investors (RIIs) was subscribed 19.10 times, the category meant for non-institutional investors 8.40 times and Qualified Institutional Buyers (QIBs) 60 per cent.
The IPO of DreamFolks Services got fully subscribed within hours of opening on Wednesday and ended the day with 1.96 times subscription.
The initial public offer is entirely an Offer-For-Sale (OFS) of 1,72,42,368 equity shares.
Price range for the offer is at Rs 308-326 a share.
On Tuesday, DreamFolks Services had raised Rs 253 crore from anchor investors.
It facilitates consumers' access to airport-related services like lounges, food and beverages, spa, meet and assist airport transfer, transit hotels or nap room

Initial public offerings, IPOs, stock market, investors

In the grey market, shares of Dreamfolks Services were trading at Rs 75 per share, which implies listing at Rs 401 per share against the upper price band of issue price.

The DreamFolks Services IPO saw strong demand from retail investors, with subscribtion of up to 8x the alloted quota. The HNI segment was also oversubscribed at the end of Day 1 of the offer period.

initial public offerings

The price band has been set in the range of Rs 308 to 326 per share and will close on Friday, August 26. The public issue is entirely an offer for sale (OFS) of up to 17.24 million equity shares.

The institutional investor portion was subscribed 0.25x. The wealthy investor portion by 1.39x, and retail investor by 8x. Overall, the IPO was subscribed 1.96x

Half of India's population between the age of 30-55 years believes 59 years should be the age of retirement and thirty-two years is when one should ideally start retirement planning,

investment,saving, money, retirement, rupee

The Apple iPhone 15 Pro Max stands out within the iPhone 15 series and offers substantial improvements over the previous generation model, the iPhone 14 Pro Max

Apple iPhone 15 Pro Max - Natural Titanium

India has been expanding its electronics manufacturing sector as companies diversify production beyond China amid growing Washington-Beijing tensions

Chromebook, Google laptop

Stock market holiday: After Mahatma Gandhi Jayanti on October 2, the market will be closed on October 24, Tuesday, for Dussehra

Stock market, NSE

Even if generative artificial intelligence has been overhyped, it's safe to assume that ChatGPT-type bots will only get better at routine tasks like writing computer software

jobs, IT jobs, IT industry, AI

Asian Games 2023, Day 7 Highlights: India thrashed Pakistan 10-2 in hockey and beat them 3-2 in Squash to win the men's team gold. The contingent finished with 10 Gold, 14 Silver and 14 Bronze medals

Rohan Bopanna and Rutuja Bhosale were highlights for India's September 20, Day 8 at the Hangzhou Asian Games 2023. Photo: SAI

Rohan Bopanna

Here is the best of Business Standard's opinion pieces for today

Big Tech

The Finance Ministry has notified October 1 as the date for implementation of the amended GST law provisions for taxing e-gaming, casinos and horse racing.
According to the changes to the Central GST Act, these supplies will henceforth be treated as "actionable claims" similar to lottery, betting and gambling and subject to 28 per cent Goods and Services Tax (GST) on full face value of bets.
The amendments to Integrated GST (IGST) Act makes it mandatory for offshore online gaming platforms to take registration in India and pay taxes in accordance with domestic law.
In its meetings in July and August, the GST Council, comprising finance ministers of Centre and states, had approved amendments to the law to include online gaming, casinos and horse racing as taxable actionable claims, and clarified that such supplies would attract 28 per cent tax on full bet value.
Parliament last month passed amendments to the Central GST and Integrated GST laws to give effect to the Council's ...

Finance Ministry, Ministry of Finance

The century-old Roshanara Club in Delhi - the cradle of Indian cricket - was on Friday sealed by the Delhi Development Authority, which also took possession of the historic club, officials said.
The action was taken in the early hours and comes nearly six months after an "eviction notice" was served on the club by the DDA as its lease had expired earlier, a senior official said.
The historic club was established on August 15, 1922 and had turned 100 last year.
Endowed with natural beauty, green pastures and colonial-era charm, Roshanara Club, located in north Delhi, has emerged as one of the most prestigious clubs in the country.
"Following court orders, that inter alia upheld its eviction order dated, 12.04.2023, the Delhi Development Authority today evicted and took possession of the premises of Roshanara Club Ltd, the leases for which had expired 11 years back in 2012 and six years back in 2017," the DDA said in a statement.
This action was taken under provisions of section 5 (

Roshanara Club

The Indian Railways on Friday said more than 2.14 lakh people participated in 1,934 activities with man hours of 6,62,990 in the first 14 days of the "Swachhata Hi Sewa" (SHS) cleanliness drive.
The fortnight-long campaign was launched on September 15 by the chairperson and CEO of the Railway Board, who administered a cleanliness pledge to all the railway employees at the Rail Bhawan here.
The participants in the campaign are railway employees, passengers and other stakeholders. The campaign aims at fostering a much greener and more eco-friendly railway system.
"Indian Railways, with its extensive nationwide network, plays a vital role in the Swachh Bharat Abhiyan," the railway ministry said in a statement.
This year, the railway ministry has become a part of the joint SHS campaign launched by the Ministry of Housing and Urban Affairs and Ministry of Jal Shakti.
"Activities of SHS are integrated with day-to-day activities of Swachhata Pakhwada. The theme for Swachhata Hi Sewa camp

Swachh Bharat to external debt: Here're key points to know about Eco Survey

Delhi Chief Minister Arvind Kejriwal-led Aam Aadmi Party (AAP) on Monday released the second list of its candidates for the forthcoming assembly elections in Madhya Pradesh and Chhattisgarh.AAP issued a list of 29 candidates for Madhya Pradesh and 12 candidates for Chhattisgarh.In Chhattisgarh, the party has fielded Tarun Vaidh from the Raipur Gramin constituency, Raja Ram Shyam from Pratappur, and Dev Prasad Koshle from the Sarangarh constituency.Releasing the list of candidates for Madhya Pradesh, the AAP wrote on X, "Our second list of candidates for Madhya Pradesh Assembly Election 2023. Many congratulations to all our candidates, and best wishes for the campaign."The AAP has fielded Ramani Devi Jatav, a candidate belonging to the Scheduled Caste from Bhander, Rahul Kushwah from Bhind, Satinder Bhadoriya from Mehgaon, Mohammad Sood from Bhopal Uttar, Raisa Begam Malik from Narela, Chanda Kinnar from Malhara and Vijay Mohan Palha from Patan.Earlier on September 8, the party ...

Poll, election, lok sabha

An encounter broke out between terrorists and security forces late on Monday evening during a search operation in the forest area of Kalakote in Jammu and Kashmir's Rajouri district, officials said.
The Army along with police had cordoned off the Broh and Soom forest belt in the Kalakote area early on Monday following information about suspicious movement, they said.
The search operation turned into an encounter late in the evening when the terrorists hiding in the area opened fire on the forces in an attempt to break the cordon, the officials said.
Security forces retaliated and an exchange of fire between the two sides was underway. There was no immediate report of any casualty, the officials said.
Reinforcements have been rushed to the area to plug all possible escape routes, they said.
Earlier in the day, gunshots were heard during the cordon and search operation but it was later clarified that the security forces fired the probing shots to check the presence of suspected ...

army, indian army

The trains have seats for 50 passengers and the space for 300 to stand

Delhi metro, Metro, Yellow line metro

Pakistan Muslim League-Nawaz (PML-N) supremo and former prime minister Nawaz Sharif has reportedly booked flight tickets to return from the UK to the country on October 21, ending a four-year "self-imposed exile", a media report said Monday.
Nawaz, 73, recently said that he is excited to return to Pakistan on October 21 to lead his party in the election likely to be held in January 2024.
Citing a source, Samaa TV reported that Nawaz, who is currently in the UK, will land at the Abu Dhabi International Airport on October 21. He is scheduled to fly to Lahore from Abu Dhabi on the same day.
He has booked a business class ticket on flight EY243 of Etihad Airways in advance, sources said. They further said the Etihad Airways flight will land at the Allama Iqbal International Airport in Lahore at 6:25 p.m.
Those accompanying Nawaz will reportedly be his staff members, personal advisers, Dr. Adnan and Senator Irfan Siddiqui.
According to sources, several PML-N leaders and former lawmaker

Nawaz Sharif books flight tickets to return Pak from UK on Oct 21: Report

The lenders of Future Retail Ltd have rejected the bid submitted by Space Mantra for the debt-ridden firm, which is currently going through Corporate Insolvency Resolution Process (CIRP).
The Resolution Plan submitted by Space Mantra for Future Retail Ltd (FRL), failed to get the required number of votes in the e-voting process of the Committee of creditors (CoC).
It was put "for the consideration of the CoC on July 19, 2023... and pursuant to the decision taken by CoC through e-voting, concluded on 30th September 2023 at 9 PM (IST), the resolution plan submitted by Space Mantra Private Limited has not been approved by CoC", FRL said in a regulatory filing on Monday.
It further added: "In view of the resolution plan not having been approved by the CoC, the next steps would be taken in accordance with the Insolvency & Bankruptcy Code 2016."
Space Mantra was the single bidder for FRL. According to some media reports, Space Mantra had offered around Rs 550 crore, which was very close

DreamFolks Services

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Dreamfolks' offer for sale subscribed 57 times on issue concluding day

DreamFolks Services' IPO subscribed 6.09 times on second day

DreamFolks Services IPO receives 6 times subscription on Day 2 of offer

DreamFolks Services IPO: Grey market premium jumps 15% on strong demand

DreamFolks Services IPO is open for subscription, should you Subscribe?

Rs 562 crore Dreamfolks Services IPO opens on Aug 24: All you need to know

DreamFolks' IPO subscribed 1.96x on Day 1, retail portion booked 8x