In an exchange filing on Monday, Dreamfolks said that certain programs that it runs for private lenders like Axis Bank and ICICI Bank have been closed from July 1, 2025. It went on to add that although some programs have been closed, the contracts with these clients are still valid.
“While the Company is currently evaluating the exact potential impact of aforesaid, it is likely to be material in nature,” the company said in its statement.
Activation of new programs or deactivation of existing programs is part of regular business operations, according to the company’s statement, which further stated that it is committed to take requisite actions to mitigate the impact.
“The Company remains committed to adhering to the highest standards of corporate governance and will continue to inform the exchanges of any material events in a timely manner as required under applicable laws,” Dreamfolks said further.
In an interaction with CNBC-TV18 last week, Dreamfolks’ management had spoken about no contracts being cancelled with existing customers.
Shares of Dreamfolks Service ended little changed on Tuesday at ₹237.5. The stock trades well below its IPO price of ₹326, having declined 8% in the last one month.
