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News Topical, Digital Desk : In a major international move on Monday, the company announced that it would invest USD 4 million to acquire a 60.24% stake in ETT Solutions DMCC. This investment will be made through a mix of secondary and primary share subscriptions. Following the deal, ETT will become DreamFolks' overseas subsidiary. The company states that the acquisition will strengthen its strategic goals, including its global lounge business, technology integration, and client diversification. The stock opened at ₹121.64 on the morning of December 1st, compared to a closing price of ₹120.47. It subsequently reached close to ₹130. The stock has lost 70% in three years. Meanwhile, FII holdings have fallen from 3.55% to 0.02%. DII holdings, meanwhile, have fallen from 7.6% to 0%.
This company is DreamFolks. The company stated on the exchange that ETT is a Dubai Multi Commodities Centre (DMCC) registered company that provides airport lounge access, fast-track services, and a variety of premium airport experiences worldwide under the "Easy to Travel" brand. ETT has a presence in over 120 countries and over 500 airports—providing a significant global network for DreamFolks.
ETT's financials:
FY24 turnover: Nil
(10 months) FY25 turnover: AED 7.6 million
FY25 (10 months) PAT: AED 0.8 million
This shows that the company is scaling rapidly.
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