DreamFolks: Difference between revisions
→Financials: COVID 19 restrictions |
Added CSR activities |
||
| Line 77: | Line 77: | ||
|{{Increase}} {{color|Green|31}} |
|{{Increase}} {{color|Green|31}} |
||
|} |
|} |
||
== Corporate Social Responsibility == |
|||
Dreamfolks adopted two schools as part of Girl Child Empowerment Initiative in Gurgaon, Haryana.<ref>{{Cite web |last=Rabindra |date=2022-10-15 |title=Dreamfolks Services Limited Adopts Two Schools as Part of Girl Child Empowerment Initiative in Gurgaon, Haryana |url=http://businessnewsthisweek.com/education/dreamfolks-services-limited-adopts-two-schools-as-part-of-girl-child-empowerment-initiative-in-gurgaon-haryana/ |access-date=2022-11-21 |website=Business News This Week |language=en-US}}</ref> |
|||
== References == |
== References == |
||
Revision as of 05:46, 21 November 2022
 | This article, DreamFolks, has recently been created via the Articles for creation process. Please check to see if the reviewer has accidentally left this template after accepting the draft and take appropriate action as necessary.
Reviewer tools: Inform author |
| Company type | Public |
|---|---|
| ISIN | INE0JS101016 |
| Industry | Financial services |
| Founded | 2013 |
| Headquarters | Gurugram, India |
Key people |
|
| Services | Aerospace & Defense |
| 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]
It is 100% owned by the promoters, Liberatha Peter Kallat and Dinesh Nagpal each holds 33% shareholding in the company, and the remaining 34% shareholding is 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 July 2021, DreamFolks has a 90% market share in India and it is present in 140 countries worldwide.[4]
In Oct 2022, It has 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.[5]
History
The company started its operations in 2013 by facilitating lounge access services for the consumers of Mastercard.[6]
In 2017, the non-aeronautical earnings per passenger of the company were at ₹75.94 which has increased by more than threefold to ₹250.56 in the pre-pandemic year of FY20.[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 and its price rose by 55% on 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 crore or US$1.9 million in 2023). The revenue from operations grew to ₹171.24 crore (equivalent to ₹181 crore or US$22 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, Visa, Diners, Discover, Rupay and prominent card issuers like ICICI, Axis, Kotak Mahindra, HDFC and SBI.[14]
- In July 2021, DreamFolks partnered with Go First (formerly known as Goair) for departure lounge services across selected airports in India. This includes 30 domestic terminals and 12 international terminals providing food and beverages, entertainment, free wi-fi and business centre facilities.[15]
- In Sep 2022, the company partnered with nine lounges at eight railway stations across the country Paharganj Gate (New Delhi), Ajmeri Gate (New Delhi), Ernakulum (Madurai), Ahmedabad, Sealdah, Agra Cantt, Jaipur and Varanasi.[16][17]
Key people
- Liberatha Peter Kallat as Chairman and Managing Director (MD)[3]
- Dinesh Nagpal as Non-Executive Directors[3]
- Mukesh Yadav as Non-Executive Directors[3]
- Anurag Jain as Chief Operating Officer[18]
- Giya Diwaan as Chief Financial Officer (CFO)[19]
Funding
In Aug 2022, before the launch of the initial public offering (IPO), the company raised ₹253 crore (equivalent to ₹268 crore or US$32 million in 2023) from 18 anchor investors. [20] According to BSE website, DreamFolks allotted ₹7.7 crore (equivalent to ₹8.2 crore or US$980,000 in 2023) shares to anchor investors at a price of ₹326 a piece by aggregating the transaction size to ₹253 crore (equivalent to ₹268 crore or US$32 million in 2023).[21] 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.[22]
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.[23]
Financials
Covid-19 restrictions severely impacted its financials during FY21.[24][25]
| Year | Revenue (In crores) | Profits/Loss (In crores) | Ref. |
|---|---|---|---|
| FY 2020 |  367
|
16.25
|
[26] |
| FY 2021 | 108
|
 1.45
| |
| FY 2022 | 283
|
31
|
Corporate Social Responsibility
Dreamfolks adopted two schools as part of Girl Child Empowerment Initiative in Gurgaon, Haryana.[27]
References
- ^ Naidu, Rajesh (24 Aug 2022). "Dreamfolks on route to revival, but it's best to wait & watch". The Economic Times. Retrieved 2022-11-21.
- ^ Grover, Devender (Nov 2021). "DreamFolks offers the Ultimate Red Carpet Experience". Travel Span: 46, 47, 48.
- ^ a b c d "DreamFolks Services IPO | 10 things you must know before rushing for the issue". Moneycontrol. Retrieved 2022-11-19.
- ^ "DreamFolks: New-Age Experience Airport Hospitality Services" (PDF). Forbes India. July 2021. Retrieved 19 Nov 2022.
- ^ Lal, Preeti (2 Oct 2022). "Building long-lasting relationships is my go-to business mantra: DreamFolks' Liberatha Peter Kallat". Moneycontrol. Retrieved 2022-11-21.
- ^ Livemint (2022-08-18). "DreamFolks Services IPO to open on 24 Aug, public offer entirely OFS". mint. Retrieved 2022-11-19.
- ^ Mishra, Lalatendu (2022-02-19). "Airport lounges set to grow as airports and air passengers rise". The Hindu. ISSN 0971-751X. Retrieved 2022-11-19.
- ^ "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.
- ^ Aug 18, Manju V. / TNN /; 2022; Ist, 18:07. "Airport service aggregator, DreamFolks IPO to launch next week - Times of India". The Times of India. Retrieved 2022-11-19.
{{cite web}}:|last2=has numeric name (help)CS1 maint: numeric names: authors list (link) - ^ 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.
- ^ "Dreamfolks lists with 55% gain over issue price". The Economic Times. Retrieved 2022-11-19.
- ^ Matkar, Sunil (27 Oct 2022). "DreamFolks shares soar as record travellers queue up at busy airports for lounge access". Moneycontrol. Retrieved 2022-11-19.
- ^ Matkar, Sunil (5 Nov 2022). "DreamFolks Services profit jumps 745% on healthy growth in airport footfalls". Moneycontrol. Retrieved 2022-11-19.
- ^ Joseph, Lancelot (March 2022). "DreamFolks Services". Business India: 50, 51, 52.
- ^ "Go First to offer departure lounge service across select Indian airports". Business Traveller. Retrieved 2022-11-19.
- ^ "Market liked our 'unique business model': DreamFolks founder on stellar listing". Business Today. 2022-09-06. Retrieved 2022-11-19.
- ^ "IPO-bound DreamFolks to provide lounge services at 5 rly stations - ET Infra". ETInfra.com. 31 Mar 2022. Retrieved 2022-11-19.
- ^ Farooqui, Maryam (23 Aug 2023). "Dreamfolks IPO: Airport service aggregator to go global, focus on railways for growth". Moneycontrol. Retrieved 2022-11-21.
- ^ "Dreamfolks IPO: Airport service aggregator to go global, focus on railways for growth". Moneycontrol. Retrieved 2022-11-19.
- ^ "DreamFolks IPO opens for subscription today, raises Rs 253 crore from anchor investors; should you subscribe?". Financialexpress. Retrieved 2022-11-19.
- ^ "Dreamfolks Services raises Rs 253 cr from anchor investors ahead of IPO". Business Standard. 23 Aug 2022. Retrieved 20 Nov 2022.
- ^ Makwana, Bhakti (24 Aug 2022). "California-based VC laps up about a third of DreamFolks' anchor investor pie". Business Insider. Retrieved 2022-11-21.
- ^ Livemint (2022-09-06). "Dreamfolks Services announces Q1 results on listing day, swings to profit". mint. Retrieved 2022-11-19.
- ^ 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.
- ^ "DreamFolks Services' ₹562 cr IPO opens on Aug 24; here's all need to know". www.fortuneindia.com. Retrieved 2022-11-21.
- ^ "Airport services aggregator DreamFolks Services IPO to open on August 24, price band at ₹308-₹326 apiece". Business Insider. Retrieved 2022-11-19.
- ^ 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.