GMP, What Experts Say About Listing Gains

DreamFolks Services IPO Listing: DreamFolks Services IPO (initial public offering) is most likely to debut on BSE and NSE on Tuesday, September 6, 2022. The public offer was subscribed 56.68 times on the final day of the opening of the issue. DreamFolks facilitates an enhanced airport experience for passengers, leveraging its technology-driven platform, and facilitates consumers’ access to airport-related services like lounges, food and beverages, spas, meet and assist airport transfer, transit hotels, or nap room access, and baggage transfer services.

DreamFolks Services IPO: Subscription Status

The quota for retail investors (RIIs) was subscribed 43.66 times, the category for non-institutional investors 37.66 times and the portion for qualified institutional buyers (QIBs) 70.53 times. The IPO got fully subscribed within hours of opening on Wednesday ending the day with 1.96 times subscription.

The issue, entirely an offer for sale, is sized at Rs 562 crore at the upper end of the price band of Rs 308-326 a share.

DreamFolks IPO: GMP Today

According to market observers, DreamFolks shares are available at a premium of Rs 110 in the grey market today. However, market experts believe that DreamFolks share listing would be around Rs 400 apiece. However, stock market experts maintained that GMP is not an ideal indicator about the listing premium that one can expect from a public issue. They said that GMP has nothing to do with the balance sheet of the company and hence one should not blindly rely on it. They advised applicants to rely on the balance sheet of the company as it gives a concrete fundamental picture of the public issue.

Abhay Doshi, Founder, UnlistedArena said, “The primary markets have gained traction following the commendable listing of Syrma SGS. Strong subscriptions for the Dreamfolks IPO were recorded in all categories. An attractive business concept despite aggressive pricing arouses investor interest. Considering the strong interest accompanied by stable broader market conditions, we can expect a very strong listing at a premium of over 25-30 per cent.”

What Experts Say About Listing Gains?

Ravi Singhal, CEO, GCL, said: “Dream folks can be listed around Rs 480 to Rs 520. Long-term investors should keep invested with stop loss Rs 350 target Rs 700 plus in the next 1 year.”

Ravi Singh Vice President and Head of Research-ShareIndia, said: “Dreamfolks services company has the advantage of being its first mover in this business. However, the company faced headwinds due to the pandemic-led industry issues and the same is being reflected in its growth numbers, leading to higher valuations. Though the company’s asset-light business model will benefit it in long run. The GMP is already reflecting the response it might get on a listing day. If the secondary market sentiments improve, the IPO may further gain strength in the primary market also. We expect the IPO to list at a premium, around 20 – 30 per cent higher from its price band between Rs. 380 – 412.”

The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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