India's Dreamfolks loses $36 million in market value in four-day losing streak, hits record low

Dreamfolks Services

07/07/2025 10:28

** India's Dreamfolks Services DREM.NS drops 6.4% to record low of 178.71 rupees

** Stock drops 24.6% in four-day losing streak, shedding 3.11 billion rupees ($36.18 million) in market value to 9.49 billion rupees

** DREM fell 5% on July 2 after airport lounge services provider closed certain programmes for clients Axis Bank AXBK.NS and ICICI Bank ICBK.NS

** CEO Liberatha Kallat told CNBC-TV18 on July 2 that these are "pressure tactics by two large airport operators, who have entered the same line of business"

** DREM and Kallat did not respond to Reuters' emails seeking comment

** Adani Airport Holdings CEO Arun Bansal also said in a LinkedIn post on Thursday that India's "fintech revolution" has eliminated the need for middlemen across sectors, though he did not name Dreamfolks; stock fell 3% that day

** DREM down 54% YTD

($1 = 85.9600 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))