DreamFolks services ltd Share Price: There is good news for the investors who are betting on the IPO of DreamFolks. The company has given strong returns to investors as soon as it is listed in the market.
DreamFolks services ltd Share Price: There is good news for investors betting on DreamFolks IPO. The company has given strong returns to investors as soon as it is listed in the market. Shares of Dreamfox Services Limited were listed at a premium of 54.96 percent today. Compared to the price band, the company’s shares were trading at Rs 505 with an increase of Rs 179.
The stock opened at Rs 505 on the BSE, against the issue price of Rs 326, and the opening tick on the NSE was Rs 508.70.
Share prices fall after listing
Shortly after the listing, the company’s shares saw a fall. Shares of Dreamfox Services fell at a level of Rs 492.50 at 10:15 am, down 2.48 percent. However, despite this fall, the company’s shares were trading with a gain of Rs 166.50 or 51.07 percent from the IPO price.
How was the pre-opening session?
Shares of Dreamfox were also performing well in the pre-opening session. The company’s shares were trading at a premium of 47 percent in the pre-opening session before listing. Let us tell you, the shares of Dreamfox were trading in the gray market at a premium of more than Rs 100 since the share allotment.
The company had raised Rs 253 crore from anchor investors
The Qualified Institutional Buyer (QIB) quota was subscribed 70.53 times in the IPO of Dreamfox Services. At the same time, 43.66 times the bids were received in the retail investor’s category. Whereas the bids were received 37.66 times in the Non-Institutional Investors (NII) quota. Dreamfox Services had raised Rs 253 crore from anchor investors before its public issue. The company’s IPO was open for subscription on 24 August 2022.
How is the financial position of the company
The net worth of the company as on 31 September 2021 was Rs 64.7 crore. The company’s revenue during the quarter of September 2021 was Rs 85.1 crore. The company had a revenue of Rs 105.6 crore in the financial year 2021. Which is less as compared to FY 2020. Then the revenue of the company was Rs 367.04 crore.
(Disclaimer: This is not an investment advice. Investing in the stock market is subject to risks and please consult your advisor before investing.)
