Dream11 Unlisted Share Price

Dream11 Unlisted Share Price Description: Dream11, owned by Dream Sports, is India’s pioneering fantasy sports platform and a leader in digital sports entertainment with a massive user base. Since its inception in 2008 and its rapid growth from 2012, Dream11 has evolved into one of the most valuable unlisted companies in India, riding the wave of fantasy sports popularity supported by cricket, football, and other sports formats.

This article delves into the detailed aspects of Dream11’s unlisted share price, business model, financial performance, shareholding structure, and investment considerations in 2025, following the structured format commonly used for leading unlisted companies.

Company Business Overview

Dream11 is India’s first fantasy sports unicorn and a flagship brand under Dream Sports. It offers a platform where sports enthusiasts create fantasy teams, participate in contests, and win prizes. The company’s key differentiator is its wide offering across multiple sports, including cricket, football, volleyball, rugby, hockey, Kabaddi, and basketball, along with its deep market penetration with over 280 million registered users and more than 10 million daily active participants.

The company has also diversified into subsidiaries such as FanCode (sports streaming and merchandise) and engaged in strategic acquisitions like FanDuniya (AI-driven sports news), SoStrunk (gaming and events), and Rolocule Games (mobile gaming). Dream11’s blend of technology, sports licensing, and community engagement creates a sticky platform highly favored by users and advertisers alike.

Business Model of Dream11

Dream11’s business model is based on a freemium approach, combining free and paid fantasy contests. Users can participate in free contests to familiarize themselves with the platform, while paid contests require an entry fee. Dream11 earns revenue mainly by taking a commission (15-25%) from the entry fees of paid contests.

Additionally, after the 2025 ban on real-money gaming, Dream11 shifted focus to a free-to-play model monetized through digital advertising and brand sponsorships. The company also gains income through partnerships with major sports leagues like IPL, and subsidiaries such as FanCode that offer streaming, premium content, and merchandise sales.

Other minor revenue streams include transaction fees, subscription plans, and referral programs. This diversified model allows Dream11 to engage a large user base and sustain revenue amidst regulatory changes and market competition.

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Services and Product Portfolio

• Paid and Free Fantasy Sports Contests (Cricket, Football, Volleyball, etc.)
• FanCode: Live Sports Streaming and Merchandise
• AI-Based Sports News and Insights (FanDuniya)
• Mobile Gaming Platforms (Rolocule Games)
• Athlete and Coach Engagement Platforms (Khelomore Sports)
• Sponsorship and Brand Collaborations (IPL, Jio Cinema

Key Highlights

• Revenue: Dream11’s revenue crossed INR 6,384 crore in FY 2024 and was projected to be around INR 8,200 crore in FY 2025 before the real-money gaming ban impacted its business model.
• Profit: Dream11 reported a net profit of INR 188 crore in FY 2024, showing a growth of 17.5% over the previous year.
• Expenses: The company’s expenses, including employee benefits and advertising/promotions, increased significantly; employee costs alone were INR 1,154 crore in FY 2023.
• EBITDA Margin: Improved from 9% in FY 2022 to 12.8% in FY 2023.
• Business Model Shift: After the nationwide ban on real-money gaming from September 2025, Dream11 moved from paid contests to brand-sponsored free contests, advertising, and subscriptions, significantly altering the revenue structure.
• User Base: Over 280 million registered users with around 10 million daily active players.
• Additional Revenue: Included earnings from partnerships, IPL sponsorships, FanCode subscriptions, and merchandise sales.

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Dream11 Board of Directors and Team

• Harsh Anandkumar Jain (CEO & Co-Founder)
• Bhavit Rajesh Sheth (COO & Co-Founder)
• Abhishek Ravi (Chief Information Officer)
• Amit Sharma (Chief Technology Officer)
• Deepak Jacob (Group General Counsel)
• Kevin Freitas (Chief Human Resource Officer)
• Navin Agarwal (Chief Financial Officer)
• Rahul Mirchandani (Chief Product Officer)
• Vikrant Mudaliar (Chief Marketing Officer)
• Priyanka Kodikal (Chief Design Officer)

Dream11 Share Price Details

Name	Dream11 Unlisted Share Price Details
Face Value	INR 10 per share
ISIN Code	INE0W3U01014
Lot Size	50 – 100 shares
Demat Status	NSDL, CDSL
Share Price of Dream11	INR 5,88,766 per share
Market Cap	INR 61,654 crores
Total number of shares	10,47,169 shares
Website	www.dream11.com

The unlisted share price of Dream11 has appreciated significantly in line with the company’s valuation surge to nearly USD 8 billion (INR 65,000 crore). The share price appreciates on factors such as revenue growth, strategic acquisitions, market penetration, and brand strength.

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Dream11 Unlisted Share Price – Shareholding Pattern

Shareholder	Approximate % Holding
Co-founders (Harsh Jain & Bhavit Sheth)	30-35%
Institutional Investors (Tencent Holdings, Tiger Global, TCV, D1 Capital Partners, Alpha Wave Global)	50-55%
Employee Stock Options & Others	10-15%

Dream11 Unlisted Share Price – Financial Performance

	FY 2022	FY 2023	FY 2024
Revenue	3,200	5,100	6,384
Revenue Growth (%)	–	59.38	25.18
Net income	120	160	188
Margin (%)	3.75	3.14	2.94
EPS	1,148	1,527	1,793

Dream11 Share Price – Annual Reports

Dream11 Annual Report FY 2024 – 2025
Dream11 Annual Report FY 2023 – 2024
Dream11 Annual Report FY 2022 – 2023

Dream11 Unlisted Share Price FAQs