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Following Allocation of IPO Shares, DreamFolks Services Shares GMP Rise

Following Allocation Of IPO Shares, DreamFolks Services Shares GMP Rise_eq
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The share allotment for the $562.10 billion IPO of DreamFolks Services has been completed, and everyone’s attention is now on the IPO’s expected listing date, Tuesday next week, September 6th. Meanwhile, DreamFolks’ share price has increased somewhat in the secondary market today, despite heavy selling on Thursday and neutral sentiments in early Friday dealings on Dalal Street. Market watchers claim that shares of DreamFolks Services Limited are currently selling at a premium of 115 in the black market.

According to market watchers, DreamFolks’ IPO grey market premium (GMP) is currently at 115, up about four from its Thursday high of 111 per share levels. However, when the market closed on Thursday, the DreamFolks IPO GMP settled at 106. Given the severe sell-off that was seen on Thursday, market observers say the increase in DreamFolks IPO GMP is a positive indicator. According to them, the secondary market mood is unchanged as of today’s opening bell, and the fact that DreamFolks shares are up today suggests that there will be a premium from the public offering when it lists, which is most likely to happen on Tuesday of next week.

Market watchers continued by stating that DreamFolks’ IPO GMP today is 115, indicating that the grey market anticipates the public offering to list at around 441 (326 + 115), roughly 35% higher than its price range of 308 to 326 per equity share. They continued by stating that despite low feelings during the last Dalal Street session, the public issue has stayed strong in the grey market, which indicates that once there is a trend reversal in the secondary market, it may spike up.

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