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It’s the second day of subscription for the initial public offering (IPO) of airport services aggregator Dreamfolks Services Limited. The issue will remain open for subscription till Friday, i.e August 26.
On Day 1, the IPO worth ₹562.10 crore got fully subscribed. On the second day, the retail portion has been subscribed 9.99 times as per data till 10:34 AM, Mint reported. The stupendous response by the retail investors has also influenced the grey market. According to market observers, the shares are available at a premium of ₹83 in the grey market.
The market observers told the website that the grey market premium (GMP) of Dreamfolks surged from ₹60 to ₹83 in just one day due to strong response from the retail investors.
Grey Market Price is actually a premium amount paid at which the IPO shares are traded before being listed on the stock exchanges. The market observers said that the GMP of ₹83 today means that the grey market expects the IPO listing to be around ₹409.
The public issue available for bidding has a price band of ₹308- ₹326. On Day 1, the IPO received bids for 1,85,76,916 shares against 94,83,302 shares on offer, according to data available with the National Stock Exchange, PTI reported.
The category for Retail Individual Investors (RIIs) received 7.93 times subscription, while non-institutional investors portion got subscribed 1.39 times and Qualified Institutional Buyers (QIBs) 25 per cent.
Dreamfolks facilitates consumers’ access to airport-related services like lounges, food and beverages, spa, meet and assist airport transfer, transit hotels or nap room, and baggage transfer services.
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