DreamFolks IPO: Should you subscribe to the issue?

The IPO of DreamFolks Service, an airport service aggregator platform, will be sold in the price range of Rs 308-326 apiece. The IPO is entirely an offer for sale (OFS) of up to 1,72,42,368 equity shares with a face value of Rs 2 each.In terms of the valuations, the post issue P/E works out to 104.8x FY22, EPS at the upper range of the price band, However, it looks higher mainly due to lower profitability caused by pandemic led industry wide issue, said Puves S Chaudhari from Angel One.