Price Band fixed at ₹ 308 to ₹ 326 per equity share of face value of ₹ 2
each (“Equity Shares”)
Bid /Offer Opening Date – Wednesday, August 24, 2022 and Bid/ Offer
Closing Date – Friday, August 26, 2022
The Floor Price is 154 times the face value of the equity shares and the
Cap Price is 163 times the face value of equity shares
Bids can be made for a minimum of 46 Equity Shares and in multiples of
46 Equity Shares thereafter
Mumbai, August 22, 2022: DreamFolks Services Limited (“the Company”) will open its
Initial Public Offering (“Offer”) on Wednesday, August 24, 2022.
The Price Band for the Offer has been fixed at ₹ 308 to ₹ 326 per Equity Share . Bids
can be made for a minimum of 46 Equity Shares and in multiples of 46 Equity Shares
thereafter.
The IPO consists of an offer of Equity Shares by way of an Offer for Sale of Up to
17,242,368 Equity Shares by the promoter selling shareholders. The Offer for Sale
comprises upto 6,531,200 Equity Shares by Mukesh Yadav, upto 6,531,200 Equity
Shares by Dinesh Nagpal and upto 4,179,968 Equity Shares by Liberatha Peter Kallat.
The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of
the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation
31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure
Requirements) Regulations, 2018, as amended (“SEBI ICDR Regulations”) and in
compliance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than
75% of the Offer shall be Allotted on a proportionate basis to qualified institutional
buyers (“QIBs”) (such portion referred to as “QIB Portion”), provided that our Company
and the Selling Shareholders may, in consultation with the BRLMs, allocate up to 60%
of the QIB Portion to the Anchor Investors on a discretionary basis in accordance with
the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be
reserved for domestic Mutual Funds, subject to valid Bids being received from the
domestic Mutual Funds at or above the price at which allotment is made to the Anchor
Investors (Anchor Investor Allocation Price). In the event of under-subscription, or non-
allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to
the QIB Portion.
Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be
available for allocation on a proportionate basis only to Mutual Funds (“Mutual Fund
Portion”), and the remainder of the Net QIB Portion shall be available for allocation on a
proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds,
subject to valid Bids being received at or above the Offer Price. However, if the
aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the
balance Equity Shares available for allocation in the Mutual Fund Portion will be added
to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, not more
than 15% of the Offer shall be available for allocation to Non-Institutional Bidders of
which (a) one third of such portion shall be reserved for applicants with application size
of more than ₹ 0.2 million and up to ₹ 1 million; and (b) two third of such portion shall be
reserved for applicants with application size of more than ₹ 1 million, provided that the
unsubscribed portion in either of such sub-categories may be allocated to applicants in
the other sub-category of Non-Institutional Investors, and not more than 10% of the
Offer shall be available for allocation to retail individual bidders in accordance with the
SEBI ICDR Regulations, subject to valid Bids being received from them at or above the
Offer Price. In the event at least 75% of the Offer cannot be Allotted to QIBs, the entire
application monies will be refunded. All Bidders (except Anchor Investors) are
mandatorily required to participate in the Offer through the Application Supported by
Blocked Amount (“ASBA”) process providing details of their respective bank accounts
(including UPI ID in case of UPI Bidders). Bid Amount will be blocked by the Self
Certified Syndicate Banks (“SCSBs”) to participate in the Offer or by the Sponsor Bank
using the UPI Mechanism, as applicable. Anchor Investors are not permitted to
participate in the Anchor Investor Portion through the ASBA process.
For details, see “Offer Procedure” beginning on page 289 of the Red Herring Prospectus.
The Equity Shares offered through this Red Herring Prospectus are proposed to be
listed on BSE and NSE.
Equirus Capital Private Limited and Motilal Oswal Investment Advisors Limited are the
Book Running Lead Managers (“BRLMs”) to the Offer.
Brandturks 