![Dreamfolks Services looks set to deliver listing pop on market debut](https://img.etimg.com/thumb/msid-94004242,width-210,height-158,imgsize-27060,resizemode-75/dreamfolks-services-looks-set-to-deliver-listing-pop-on-market-debut.jpg)
The Rs 562 crore issue was subscribed a solid 56.68 times, with qualified institutional investor quota getting subscribed by 70.53 times, NII quota by 37.66 times and retail quota by 43.66 times.
Analysts tracking the grey market of Dreamfolks Services said premium on the unlisted stock shares has been moving higher in the last few days. They said the stock was seeing a grey market premium of Rs 115-120 in the grey market, which had reached Rs 151 level by Monday morning.
Abhay Doshi, co-founder at UnlistedArena said following Syrma SGS Technology's IPO primary market seems to have picked up. He said Dreamfolks' business model is attractive and that even as the pricing was aggressive, the issue received a very good response by institutional investors. Doshi, who tracks grey market trends, said the stock last commanded a premium of Rs 151 and at least a 30 per cent listing pop looks on the cards.
Dreamfolks is a dominant player and is India's largest airport service aggregator platform, facilitating an enhanced airport experience to passengers. It facilitates access to 100 per cent of the 54 lounges currently operational in India, and also enjoyed a market share of over 95 per cent of all India issued credit card and debit card access to airport lounges in Fiscal 2022.
Brokerages had a positive review on the company. At the upper price band of IPO, the stock at Rs 326 was demanding a FY22 P/E of 104.8 times. Angel One said the multiple looked higher mainly due to lower profitability caused by pandemic led industry wide issues. The brokerage had a subscribe rating on the stock.
"Dreamfolks is expected to benefit from its leading position and the upcoming growth opportunities in the aviation sector, however, we would like to monitor the operating performance post listing to gain confidence," Ventura Securities had said in its IPO note.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price