Dreamfolks to Acquire 60.24% Stake in ETT Solutions for INR 36 Crore
Filing Summary
Dreamfolks Services Limited has announced its decision to acquire a 60.24% stake in ETT Solutions DMCC for approximately INR 36 crore. The acquisition involves a combination of secondary share purchase and primary subscription to newly issued shares. ETT Solutions operates in the travel and lifestyle services sector, providing access to airport lounges globally. The acquisition is expected to be completed within 120 business days, subject to regulatory approvals, including Overseas Direct Investment documentation and share transfer registration. ETT Solutions will become a foreign subsidiary of Dreamfolks upon completion.
Dreamfolks Services Limited has disclosed its plan to acquire a 60.24% stake in ETT Solutions DMCC. The acquisition involves a total investment of approximately INR 36 crore, equivalent to USD 4 million. This transaction will be executed through a combination of secondary purchase of shares and primary subscription to newly issued shares. Upon completion, ETT Solutions will become a foreign subsidiary of Dreamfolks Services.
The financial terms of the acquisition include the purchase of 50 shares at a price of USD 80,000 per share, amounting to a total consideration of USD 4 million. The payment will be made in cash and settled through an Authorized Dealer (AD) Bank in tranches. The acquisition does not fall under related party transactions, and no promoter or promoter group has any interest in ETT Solutions.
ETT Solutions operates in the travel and lifestyle services industry, focusing on providing access to airport lounges and fast-track airport services. The company operates under the brand name ‘Easy to Travel’ and has a presence in over 120 countries and 500 airports worldwide. ETT Solutions aims to enhance the airport experience for both leisure and business travelers through service contracts with airport lounges.
According to the provisional financial statements for the ten months ending October 31, 2025, ETT Solutions reported a turnover of 7.6 million AED and a profit after tax of 0.8 million AED. The acquisition aligns with Dreamfolks’ objectives of geographical expansion, client diversification, and technological integration. The completion of the acquisition is subject to procedural closing conditions, including the filing of Overseas Direct Investment documentation under the Automatic Route as per the Foreign Exchange Management Act (FEMA) and the registration of share transfer by the Dubai Multi Commodities Centre (DMCC) Authority.
The acquisition is expected to be completed within 120 business days. Dreamfolks Services will manage the procedural requirements and ensure compliance with regulatory approvals. The acquisition will enhance Dreamfolks’ global lounge business and strengthen its market position across key geographies outside India.
Dreamfolks Services Limited is a leading provider of airport service aggregation in India. The company focuses on offering a comprehensive range of services, including lounge access, meet and assist, and baggage transfer. Dreamfolks aims to expand its global footprint and enhance its service offerings through strategic acquisitions and partnerships.