DreamFolks Services will be making its market debut tomorrow as the shares of the company list on the country’s two bourses after its IPO. The airport services provider opened its IPO on August 24 and the allotment of shares was finalised on September 1. The IPO’s price band was set at Rs 308-326.
Ahead of the listing, shares of the company have been performing well in the grey market. The grey market premium (GMP) for the scrips of the company is Rs 100-110. The GMP of a share ahead of its IPO listing often serves as an indicator of whether investors can see any listing gains. The GMP for the stock has been sitting near or above Rs 100 since the IPO closed, showing a high likelihood of a strong listing despite volatile movements in the wider markets.
If DreamFolks Services shares will list with the same premium on the National Stock Exchange and the Bombay Stock Exchange tomorrow, then investors can expect to see a 30-33 percent listing gain.
Ravi Singh, VP & Head of Research, Share India said to Mint that he expects the stocks to list at a price band of Rs 380-412, a listing gain of anywhere between Rs 54 to Rs 104.
Manoj Dalmia, Founder and Director at Proficient Equities, told Mint that he was even more bullish on the stock. Dalmia expected the listing to be in the Rs 408-Rs 428 price band, a listing gain of anywhere between Rs 82 and Rs 120.
The airport services company was looking to raise Rs 562.10 crore through its IPO which consisted of a fresh issue of 17,242,368 shares, which were then put through an offer for sale. Investors could bid for shares in lots of 46 shares with a maximum bid amount of 598 shares.
