Shares of DreamFolks Services Ltd fell further 5% on July 7 as exchange data revealed that Motilal Oswal Mutual Fund, and Bajaj Finance Ltd sold shares of the company on Friday.
DreamFolks is a global travel and lifestyle services aggregator that offers lounge access services at several airports.
On Friday (July 4), Bajaj Finance offloaded 3.09 lakh shares worth Rs 61 crore at an average price of Rs 196.32 apiece, while Motilal Oswal Mutual Fund sold 2.7 lakh shares worth Rs 57 crore at an average price of Rs 211.14 apiece. Also, HRTI Private exited by selling 2.61 lakh shares worth Rs 51 crore.
At 10:35 am on July 7, DreamFolks shares were trading 5% lower at Rs 181.37 apiece, thus extending their five-day losing streak to 24%. The market capitalisation of the stock is Rs 965 crore.
The stock has been facing sustained pressure ever since Adani Airports CEO, in a post on LinkedIn, highlighted that lounge access on airports no longer requires middlemen and can be done directly through airport operators.
Exchange data, as of March 2025, shows Motilal Oswal Focused Fund held 3.12% stake (16.6 lakh shares) in the company.
Last month, PTI reported, citing sources, that major Indian banks and card networks, including ICICI Bank, Axis Bank, and Mastercard, are looking to move away from aggregator DreamFolks Services Ltd to establish direct partnerships with airport lounge operators, and others also may follow suit.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
