Subscribe to DreamFolks Services: KR Choksey

KR Choksey has come out with its report on DreamFolks Services. The research firm has recommended to ''Subscribe'' the ipo in its research report as on August 23, 2022.

Broker Research

August 23, 2022 / 16:56 IST

26 Aug, 2025 12:21

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KR Choksey IPO report on DreamFolks Services

DreamFolks Services Ltd (DreamFolks) is a dominant player and India's largest airport service aggregator platform, an incubator of the industry with its unique, asset-light, capital-efficient business model. DreamFolks provides services to all the Card Networks operating in India, including Visa, Mastercard, Diners/Discover and RuPay; and many of India's prominent Card Issuers, including ICICI Bank Limited, Axis Bank Limited, Kotak Mahindra Bank Limited, HDFC Bank Limited and SBI Cards and Payment Services Limited. It has a global footprint extending to 1,416 touch-points in 121 countries worldwide, out of which 244 Touch-points are present in India and 1,172 touch-points overseas, as of March 31, 2022. The company's first mover advantage in the lounge access aggregator industry in India has enabled it to become a dominant player with a share of over 80% in the domestic lounge access market. In addition, it has partnered with various entities to facilitate access to around 57 restaurants / F&B outlets at 18 airports across India.

Valuation and Outlook

As a result, we recommend that DreamFolks Services Ltd IPO be rated 'SUBSCRIBE.'

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