Dreamfolks Services rises 4% on pact with Visa Worldwide

Dreamfolks Services has entered into an agreement with Visa Worldwide Pte. Ltd for launching global duty-free services program.

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Shares of Dreamfolks Services rose four percent on March 15 after the company said it has entered into an agreement with Visa Worldwide Pte. Ltd.

The agreement is for launching global duty-free services programme, the company said in an exchange filing.

At 2:12 am, shares of the company were trading at Rs 422, up 3.5 percent, on the BSE. The company’s stock made a market debut in September 2022, as the scrip got listed at Rs 508.70 on NSE, up 56 percent over its issue price of Rs 326. On BSE, the scrip made a debut at Rs 505, up 55 percent.

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Dreamfolks Services is a dominant player and India’s largest airport service aggregator platform facilitating an enhanced airport experience to passengers leveraging a technology driven platform. It facilitates customers access to services such as lounges, food and beverage, spa, meet and assist, airport transfer, transit hotels or nap room access, among other services.

CRISIL Ratings is of the view that the company has an established market position and extensive experience of the promoters, strong ties with clients and lounge partners, and also has a healthy financial risk profile.

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“With greater awareness around lounges, higher intent to spend on comfort, increasing waiting time at airports, and rise in the number and size of lounges, multiple factors have played out as strong tailwinds and helped us scale great heights in a short span of time,” said Liberatha Kallat, Chairperson and Managing Director, in the company’s latest investor presentation.