Airport Service aggregator platform Dreamfolks Services Ltd on Tuesday raised Rs 253 crore from anchor investors ahead of its initial share-sale which will open for public subscription on Wednesday.

Share Market Live

NSE

Societe Generale, BNP Paribas Arbitrage, Saint Capital Fund, Segantii India Mauritius, Kuber India Fund, Smallcap World Fund, Inc, Aditya Birla Sun Life Mutual Fund, Sundaram Mutual Fund, Quant Mutual Fund and PNB Metlife India Insurance Company Ltd are among the anchor investors.

The company has decided to allot 7.76 crore shares to anchor investors at a price of Rs 326 apiece, aggregating the transaction size to Rs 253 crore, according to a circular on BSE's website.

Also Read: Twitter whistleblower: Spies for foreign agencies are on social media company's payroll

The Initial Public Offering (IPO) is entirely an Offer-For-Sale (OFS) of up to 1.72 crore equity shares by promoters -- Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav.

The public issue will constitute 33 percent of the post-offer paid-up equity share capital of the company. The share sale, with a price band of Rs 308-Rs 326 apiece, will open for public subscription on August 24 and conclude on August 26.

DreamFolks facilitates consumers' access to airport-related services like lounges, food and beverages, spa, meet and assist airport transfer, transit hotels or nap room access, and baggage transfer services.

Also Read: Chennai Petroleum board approves refinery JV with IOC and seed equity investors

The company's revenue from operations increased from Rs 98.7 crore during fiscal 2017 to Rs 367.04 crore in fiscal 2020 at a compounded annual growth rate of 55 percent.

Equirus Capital and Motilal Oswal Investment Advisors are the book-running lead managers to the issue.