DreamFolks Services IPO is open for subscription, should you Subscribe?

The DreamFolks Services IPO saw strong demand from retail investors, with subscribtion of up to 8x the alloted quota. The HNI segment was also oversubscribed at the end of Day 1 of the offer period.

DreamFolks Services' initial public offer (IPO) was subscirbed 1.96 times at the end of day 1 of the offer period with strong demand seen from the retail investors and high networth individuals (HNIs). As against 1.72 million shares reserved for the retail category, the company received bids for up to 13.7 million shares - i.e. a multiple of 7.93 times.

The HNIs or Non Institutional Investors also showed keen interest, with 1.39x subscription at the end of day 1 of the offer period. 

The company plans to raise Rs 562 crore by way of offer for sale (OFS) of 17.24