- 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
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.
Disclaimer:
DREAMFOLKS SERVICES LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a Red Herring Prospectus dated August 17, 2022 (“RHP”) with the Registrar of Companies, National Capital Territory of Delhi and Haryana at Delhi.
The RHP is available on the website of Securities and Exchange Board of India at www.sebi.gov.in, on the websites of the Stock Exchanges at www.bseindia.com and www.nseindia.com as well as on the websites of the BRLMs at www.equirus.com and www.motilaloswalgroup.com, respectively.
Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” on page 26 of the RHP. Potential investors should not rely on the Draft Red Herring Prospectus for any investment decision.
This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933 or an exemption from registration.
Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements. However, the securities described in this announcement are not being offered or sold in the United States.
Capitalised terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP.
