DreamFolks

Last updated
DreamFolks Services Limited
Company type Public
ISIN INE0JS101016
IndustryAirport services
Founded2013;12 years ago (2013)
Headquarters Gurugram, India
Key people
  • Liberatha Peter Kallat
  • Dinesh Nagpal
  • Mukesh Yadav
ServicesAirport lounges and transfer
Website www.dreamfolks.in

DreamFolks Services Limited is an Indian airport service aggregator company established in 2013 and headquartered in Gurugram. [1] It provides consumers to access airport-related services via technology driven platform. [2]

Contents

It was 100% owned by the promoters, Liberatha Peter Kallat and Dinesh Nagpal each had 33% shareholding in the company, and the remaining 34% shareholding was held by Mukesh Yadav. Later, the company listed publicly on the Indian stock exchange on 6 September 2022, diluting 33% of the promoters’ stakes. [3]

In Oct 2022, It had 100% coverage across 54 airport lounges in India and a market share of over 95% of all India-issued card-based access to domestic lounges in India. It is present in 121 countries worldwide [4]

History

The company started its operations in 2013 by facilitating lounge access services for the consumers of Mastercard. It has evolved from an airport lounge aggregator to an end-to-end technology solutions provider. [5] [6]

In July 2021, DreamFolks had a 90% market share in India and was present in 140 countries worldwide. [7] In FY 2021-22, the company catered to 68% of the overall lounge volume traffic across all lounges in Indian airports (domestic and international lounges). [8]

In Aug 2022, the company opened its initial public offering (IPO) with an Offer For Sale (OFS) of up to 1.7 crore equity shares on 24 August 2022 and listed in BSE & NSE on 6 September 2022. [9] [10] The IPO raised ₹562 crore (equivalent to ₹596 croreorUS$70 million in 2023) and gained a premium of 55% to the issue price of ₹326 on the opening day. [11] In the year ended FY22, the company has an Indian market share of 95% of all the Indian issued credit and debit card access to airport lounges. [12]

In the second quarter of FY23, the company recorded a profit of ₹14.78 crore (equivalent to ₹16 croreorUS$1.8 million in 2023). The revenue from operations grew to ₹171.24 crore (equivalent to ₹181 croreorUS$21 million in 2023) as compared to the last year. [13]

Partnerships

The company has partnered with all the card networks which are operating in India including Mastercard, Diners, Discover, Rupay and prominent card issuers like ICICI, Axis, Kotak Mahindra, HDFC and SBI. [14]

Funding

In Aug 2022, before the launch of the initial public offering (IPO), the company raised ₹253 crore (equivalent to ₹268 croreorUS$31 million in 2023) from 18 anchor investors including marquee global and other domestic investors. [21] According to BSE website, DreamFolks allotted ₹1.7 crore (equivalent to ₹1.8 croreorUS$210,000 in 2023) shares to anchor investors at a price of ₹326 a piece by aggregating the transaction size to ₹253 crore (equivalent to ₹268 croreorUS$31 million in 2023). [22] Smallcap World Fund was the largest bidder with 28.46% of the total portion offered for anchor investors. And, Aditya Birla Sun Life MF, Invesco India MF, and Sundaram Mutual Fund were among the top five investors. [23]

Services

The company helps all the consumers who have access to airport-related services like lounges, food and beverages, meet and assist airport transfer, spa, nap rooms or transit hotels, and baggage transfer. [24]

Financials

COVID-19 restrictions severely impacted its financials during FY21. [25] [26]

YearRevenue (In crores)Profits/Loss (In crores)Ref.
FY 2020Increase2.svg 367Increase2.svg16.25 [27]
FY 2021Decrease2.svg 108Decrease2.svg1.45
FY 2022Increase2.svg 283Increase2.svg31

Corporate Social Responsibility

Dreamfolks adopted two schools as part of Girl Child Empowerment Initiative in Gurgaon, Haryana. [28]

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References

  1. ↑ Naidu, Rajesh (24 Aug 2022). "Dreamfolks on route to revival, but it's best to wait & watch". The Economic Times. Retrieved 2022-11-21.
  2. ↑ Grover, Devender (Nov 2021). "DreamFolks offers the Ultimate Red Carpet Experience". Travel Span: 46, 47, 48.
  3. ↑ "DreamFolks Services IPO | 10 things you must know before rushing for the issue". Moneycontrol. Retrieved 2022-11-19.
  4. ↑ Lal, Preeti (2 Oct 2022). "Building long-lasting relationships is my go-to business mantra: DreamFolks' Liberatha Peter Kallat". Moneycontrol. Retrieved 2022-11-21.
  5. ↑ "DreamFolks Services IPO to open on 24 Aug, public offer entirely OFS". mint. 2022-08-18. Retrieved 2022-11-19.
  6. ↑ "DreamFolks Services IPO opens today | Should you subscribe to the issue?". Moneycontrol. Retrieved 2023-03-24.
  7. ↑ "DreamFolks: New-Age Experience Airport Hospitality Services" (PDF). Forbes India. July 2021. Retrieved 19 Nov 2022.
  8. ↑ "Dreamfolks Services IPO: Offer fully subscribed within hours of opening; all you need to know". The Indian Express. 2022-08-24. Retrieved 2022-11-19.
  9. ↑ V., Manju (August 18, 2022). "Airport service aggregator, DreamFolks IPO to launch next week - Times of India". The Times of India. Retrieved 2022-11-19.
  10. ↑ Jain, Surbhi (22 Aug 2022). "DreamFolks IPO opens Wednesday, 24 Aug; check price band, grey market premium, issue size, bidding details". Financialexpress. Retrieved 2022-11-19.
  11. ↑ "Dreamfolks lists with 55% gain over issue price". The Economic Times. Retrieved 2022-11-19.
  12. ↑ Matkar, Sunil (27 Oct 2022). "DreamFolks shares soar as record travellers queue up at busy airports for lounge access". Moneycontrol. Retrieved 2022-11-19.
  13. ↑ Matkar, Sunil (5 Nov 2022). "DreamFolks Services profit jumps 745% on healthy growth in airport footfalls". Moneycontrol. Retrieved 2022-11-19.
  14. ↑ Joseph, Lancelot (March 2022). "DreamFolks Services". Business India: 50, 51, 52.
  15. ↑ "Go First to offer departure lounge service across select Indian airports". Business Traveller. Retrieved 2022-11-19.
  16. ↑ "Market liked our 'unique business model': DreamFolks founder on stellar listing". Business Today. 2022-09-06. Retrieved 2022-11-19.
  17. ↑ "IPO-bound DreamFolks to provide lounge services at 5 rly stations - ET Infra". ETInfra.com. 31 March 2022. Retrieved 2022-11-19.
  18. ↑ "HDFC, TVS Motor Co, Natco Pharma, Bajaj Consumer Care, BCL Industries, DreamFolks, Go Fashion stocks in focus". Financialexpress. 6 December 2022. Retrieved 2022-12-26.
  19. ↑ "DreamFolks partners with Vidsur Golf to provide customers access to 250+ golf courses in Asia Pacific". cnbctv18.com. 2022-12-06. Retrieved 2022-12-26.
  20. ↑ "DreamFolks Partners with Healthians: Your Membership Card Now Gets You Healthier". Bru Times News.
  21. ↑ "DreamFolks IPO opens for subscription today, raises Rs 253 crore from anchor investors; should you subscribe?". Financialexpress. 24 August 2022. Retrieved 2022-11-19.
  22. ↑ "Dreamfolks Services raises Rs 253 cr from anchor investors ahead of IPO". Business Standard. 23 Aug 2022. Retrieved 20 Nov 2022.
  23. ↑ Makwana, Bhakti (24 Aug 2022). "California-based VC laps up about a third of DreamFolks' anchor investor pie". Business Insider. Retrieved 2022-11-21.
  24. ↑ "Dreamfolks Services announces Q1 results on listing day, swings to profit". mint. 2022-09-06. Retrieved 2022-11-19.
  25. ↑ Makwana, Bhakti (22 Aug 2022). "Airport services aggregator DreamFolks Services IPO to open on August 24, price band at ₹308-₹326 apiece". Business Insider. Retrieved 2022-11-21.
  26. ↑ "DreamFolks Services' ₹562 cr IPO opens on Aug 24; here's all need to know". www.fortuneindia.com. 4 August 2022. Retrieved 2022-11-21.
  27. ↑ "Airport services aggregator DreamFolks Services IPO to open on August 24, price band at ₹308-₹326 apiece". Business Insider. Retrieved 2022-11-19.
  28. ↑ Rabindra (2022-10-15). "Dreamfolks Services Limited Adopts Two Schools as Part of Girl Child Empowerment Initiative in Gurgaon, Haryana". Business News This Week. Retrieved 2022-11-21.

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