DreamFolks Services' shares surge nearly 42% in stock market debut

Shares of airport service aggregator DreamFolks Services ended nearly 42 per cent higher in its debut trade on Tuesday against the issue price of Rs 326.

The stock was listed at Rs 505, registering a jump of 54.90 per cent from the issue price on the BSE. During the day, it rallied 68.71 per cent to Rs 550. Shares of the company ended at Rs 462.65 apiece, higher by 41.91 per cent.

On the NSE, the company made its debut at Rs 508.70, a jump of 56 per cent and settled at Rs 462.85 apiece, rallying 41.97 per cent.

In volume terms, 16.52 lakh shares of the company were traded on the BSE and over 2.68 crore shares on the NSE during the day.

The company commanded a market valuation of Rs 2,417.35 crore.

The Initial Public Offer (IPO) of DreamFolks Services was subscribed 56.68 times last month.

The IPO was entirely an Offer-For-Sale (OFS) of 1,72,42,368 equity shares and was priced in the range of Rs 308-326 a share.

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

The 30-share BSE benchmark settled 48.99 points or 0.08 per cent lower at 59,196.99.