Travel Food Services IPO opens for subscription on Monday, July 7. Travel Food Services Limited operates quick service restaurants (Travel QSR) and lounges in Indian airports. As of June 30, 2024, the company runs 397 Travel QSRs across India and Malaysia, housing a mix of 117 partnered and in-house food and beverage brands.
The Travel QSR segment presents a range of customized food and beverage options that cover various cuisines, brands, and formats, catering to customers’ needs for speed and convenience while traveling. The lounge segment of Travel Food Services Limited includes specific areas within airport terminals, generally available to first and business-class passengers, members of airline reward programs, selected credit card and debit card holders, and those in other loyalty programs.
According to the red herring prospectus (RHP), the comparable companies include Jubilant FoodWork Ltd (with a P/E of 205.81), Devyani International Ltd (with a P/E of 2,097.13), Sapphire Foods India Ltd (with a P/E of 548), Westlife Foodworld Ltd (with a P/E of 955.26), and Restaurant Brands Asia Ltd.
Travel Food Services has demonstrated robust financial performance in the past few years, with profits in fiscal 2025 increasing by 27.4% to reach ₹379.7 crore, while revenue rose by 20.9% to ₹1,687.7 crore compared to the previous year.
Here are the 10 key things to know about Travel Food Services IPO
Travel Food Services IPO date: The issue opens for subscription on Monday, July 7 and closes on Wednesday, July 9.
Travel Food Services IPO price band: The IPO price band has been fixed in the range of ₹1,045 to ₹1,100 per equity share of face value of Re 1.
Travel Food Services IPO lot size: The issue’s lot size is 13 equity shares and in multiples of 13 equity shares thereafter.
Anchor investors: The allocation to anchor investors for Travel Food Services IPO is scheduled to take place today (Friday, July 4).
Travel Food Services IPO details: The forthcoming IPO consists of a total offer-for-sale (OFS) of shares amounting to ₹2,000 crore by the Kapur Family Trust, which is the promoter. This offer includes reservation options for qualified employees to participate in the subscription.
Travel Food Services IPO objective: The Kapur Family Trust operates under the K Hospitality brand, which oversees and invests in different enterprises in the hospitality and food service industries, such as Travel Food Services. As this IPO consists entirely of an Offer for Sale (OFS), the company will not receive any capital from this issuance, and all funds raised will go to the selling shareholder.
Travel Food Services IPO listing date and allotment details: Tentatively, the allotment of shares for the Travel Food Services IPO is set to be determined on Thursday, July 10, with refunds being processed on Friday, July 11. The shares will be credited to the demat accounts of the allottees on the same day as the refunds. The listing of Travel Food Services shares is expected to take place on BSE and NSE on Monday, July 14.
Lead Manager and Registrar of Travel Food Services IPO: Kotak Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, and Batlivala & Karani Securities India Private Limited serve as the book-running lead managers, while MUFG Intime India Private Limited is the issue registrar.
Travel Food Services IPO reservation: Travel Food Services IPO has allocated 50% of the shares from the public offering to qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and 35% of the total offer is set aside for retail investors. Additionally, the portion reserved for employees has been capped at ₹40 million.
Travel Food Services IPO GMP today: Travel Food IPO GMP today or grey market premium is +92. This indicates
Travel Food Services share price were trading at a premium of ₹92 in the grey market on Friday, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Travel Food Services share price was indicated at ₹1,192 apiece, which is 8.36% higher than the IPO price of ₹1,100.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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