As long as you have the Adobe DPS tools installed (Folio Builder and Folio Overlays), and you have a free Adobe ID, you can create folios and can view them on your iPad. You can share them with another person who has an Adobe ID. You cannot publish the folio on the Apple App Store without a Creative Cloud subscription, or by purchasing the rights to publish a Single Edition app.
For further questions, please ask on the Adobe DPS forum: