NE BUSINESS BUREAU
MUMBAI, MAY 19
DreamFolks Services Limited, India’s largest airport service aggregator platform has received the Securities and Exchange Board of India (SEBI) approval for its proposed initial public offering (IPO).
The company plans to offer of up to 21,814,200 equity shares of face value Rs. 2 each through an offer for sale by the promoters and promoter group, through its initial public offering. The IPO will constitute 41.75% of the post offer paid-up equity share capital of the company.
DreamFolks provides services to all the card networks operating in India including Visa, Master Card, Diners/Discover and RuPay, and many of India’s prominent card issuers including ICICI, Axis Bank, Kotak Mahindra, HDFC and SBI Cards.
DreamFolks acts as a vital link for banks and card networks for their credit & debit card sales and customer engagement programs. The Company’s technology platform enables users to access airport and railway lounges via bank-issued credit and debit cards. The asset-light business model targets and integrates card networks, card issuers and corporate clients, with various airport lounge operators, and other airport related service providers.
Today, Dreamfolks Services Limited holds a dominant position in India with a share of over 95% of all India issued credit card and debit card access to airport lounges during this fiscal 2020. DreamFolks has coverage across 50 lounges constituting 100% of India’s Airport lounges across domestic and international airport terminals.
As on December 31, 2021 through partnerships with various service providers, the Company has a global footprint extending to 121 countries including India.
The company facilitates consumers’ access to airport related services like Lounges, Food and Beverage, Spa, Meet and Assist, Airport Transfer, Transit Hotels/Nap Room access, and Baggage Transfer.
Equirus Capital Private Limited and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers to the IPO, says a release.
