Dreamfolks Services Limited has informed the Exchange 'regarding closure of certain programs of certain clients'.
DREAMFOLKS · price
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Dreamfolks Services has informed exchanges that certain programs run for two of its key clients, Axis Bank and ICICI Bank, have been closed effective July 1, 2025. The company clarified that its overall contracts with both banks remain valid, and the closure applies only to specific programs. The company stated that the impact is 'likely to be material in nature' and is currently being evaluated. Management noted that activation and deactivation of programs is part of regular business operations and committed to mitigating the impact.
This is a negative development for shareholders as the closure involves two major banking clients, with the company itself acknowledging the impact could be material. However, since the underlying contracts remain intact and only specific programs are affected, the long-term business relationship is not necessarily severed. Investors should watch for further clarity on the financial impact in upcoming disclosures.