Dreamfolks Services Ltd IPO lists at premium of 56% closes lower

Dreamfolks Services Ltd had a strong listing on 06th September 2022, listing at a premium of 56%, although the stock closed the day well below the listing price. While the stock did show some bouts of volatility during the day, it struggled to hold on to the very stellar listing that the stock had in the morning on Tuesday 06th September 2022. With overall subscription of 56.68X and with QIB subscription at 70.53X, the listing was expected to be strong. Here is the Dreamfolks Services Ltd listing story on 06th September 2022.

The IPO price was fixed at the upper end of the band at Rs.326 considering the 56.68X overall subscription. The price band for the IPO was Rs.308 to Rs.326. On 06th September, the stock of Dreamfolks Services Ltd listed on the NSE at a price of Rs.508.70, a premium of 56% above the issue price of Rs.326. On the BSE also, the stock listed at Rs.505 a premium of 54.91% over the issue price.

On the NSE, Dreamfolks Services Ltd closed on 06th September 2022 at a price of Rs.462.85, a first day closing premium of 41.98% on the issue price of Rs326. On the BSE, the stock closed at Rs.462.65, a first day closing premium of 41.92% on the issue price. On both the exchanges, the stock listed well above the IPO issue price but closed Day-1 with reduced gains as the stock failed to hold on to higher levels.

On Day-1 of listing, Dreamfolks Services Ltd touched a high of Rs.549 on the NSE and a low of Rs.448. The premium held through the day. On Day-1 of listing, the Dreamfolks Services Ltd stock traded a total of 268.38 lakh shares on NSE amounting to value of Rs.1,309.92 crore.  On 06th September 2022, Dreamfolks Services Ltd was the 2nd most active share on NSE by traded value. However, by traded volumes, Dreamfolks ranked 20th on the NSE.

On the BSE, Dreamfolks Services Ltd touched a high of Rs.550 and a low of Rs.448.50. On BSE, the stock traded a total of 16.52 lakh shares amounting to value of Rs.81.15 crore. It was the 6th most active share on the BSE in terms of trading value. However, by traded volumes, Dreamfolks did not figure anywhere among the top most traded stocks.

At the close of Day-1 of listing, Dreamfolks Services Ltd had a market capitalization of Rs.2,417.35 crore with free-float market cap of Rs.435.12 crore.