Travel Food Services shares tumble 5% from peak after listing on premium
Travel Food Services
, which got listed on the exchanges earlier today, has fallen by 5% from its intraday high of Rs 1,128.90 on the BSE after
listing
at a gain of 2.6% over the issue price of Rs 1,110.
From its issue price, the stock has fallen by 2.12%.
Travel Food Services, a prominent operator of airport-based quick service restaurants (QSRs) and lounges, made its
stock market debut
on Monday with a 2.38% premium on the BSE. The shares opened at Rs 1,126.20 on the BSE and Rs 1,125 on the NSE, against the issue price of Rs 1,100.
The
IPO
saw a moderate response from investors, closing with an overall subscription of 3.03 times. The Qualified Institutional Buyer (QIB) category recorded the highest demand at 8.10 times, while retail investor participation remained subdued at just 0.73 times.
The Non-Institutional Investor (NII) segment was subscribed 1.67 times, indicating cautious interest from high-net-worth investors.
Live Events
Travel Food Services, backed by UK-based SSP Group, operates 397 quick service restaurant outlets and lounges across 14
airports
in India and three airports in Malaysia, covering major hubs such as Mumbai, Delhi, Bengaluru, and Chennai.
The company offers a diverse food and beverage portfolio comprising 117 partner and in-house brands, serving the rising demand for food and travel services at high-traffic transit locations.
Financially, the company reported stable earnings growth in FY25, supported by robust EBITDA margins of 40% and a return on equity (ROE) of 35.47%. However, concerns have been raised over the IPO's
valuation
, priced at a P/E multiple of 48.6 times, particularly since the offer is entirely secondary with no fresh capital being raised.
Also read:
Jane Street complies with Sebi, deposits Rs 4,843 crore in escrow account
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
10 minutes ago
- India.com
ED issues lookout circular against Anil Ambani in connection with Rs. 17,000 crore bank loan fraud case
New Delhi: The Enforcement Directorate (ED) issued a lookout circular against Anil Ambani on Friday, August 1, to prevent him from leaving India. The update came hours after it summoned the Reliance Group Chairman for questioning on August 5 in connection with an alleged Rs. 17,000 crore bank loan fraud case. How did the market react to the news? Shares of Anil Ambani's companies, Reliance Power and Reliance Infrastructure, dropped by up to 5 per cent in early trading on Friday, soon after news reports said that the Enforcement Directorate (ED) had called Anil Ambani for questioning on August 5. Reliance Power's stock fell by 4.82 per cent to Rs. 50.30, and Reliance Infrastructure's stock dropped by 5 per cent to Rs. 311.60 on the Bombay Stock Exchange (BSE). What course of action is ED likely to follow? Anil Ambani has been asked by the ED to report to its office in New Delhi for questioning linked to an investigation into a suspected loan fraud and money laundering case involving his group companies. The ED plans to take his statement under the law that deals with money laundering (PMLA). Last week, the ED raided 50 business entities and 25 individuals connected to the Reliance Group under the Prevention of Money Laundering Act (PMLA) while at least 35 locations in Mumbai were searched on July 24.
Fibre2Fashion
14 minutes ago
- Fibre2Fashion
India's PDS Ltd reports strong GMV growth, EBITDA down 31% in Q1 FY26
Indian apparel manufacturing company PDS Limited has announced its consolidated financial results for the first quarter (Q1) of fiscal 2026 (FY26), reporting a 14 per cent year-over-year (YoY) rise in revenue from operations to ₹2,999 crore (~$329.89 million). The company's gross merchandise value (GMV) surged 19 per cent quarter-over-quarter (QoQ) to ₹4,634 crore (~$509.74 million), reflecting strong demand across its global client base. The gross profit for the quarter reached ₹582 crore, up 7 per cent from the previous quarter. Despite the top-line growth, profitability saw a dip. EBITDA declined 31 per cent to ₹51 crore, while profit after tax (PAT) fell 36 per cent to ₹20 crore in Q1 FY26, compared to ₹31 crore in Q4 FY25. India's PDS Limited has reported a 14 per cent YoY rise in Q1 FY26 revenue to ₹2,999 crore (~$329.89 million), with GMV up 19 per cent QoQ. Despite growth, EBITDA fell 31 per cent and PAT declined 36 per cent. The company remains focused on operational efficiency and long-term growth, supported by an asset-light model, strategic restructuring, and promising cost optimisation measures. PDS continues to support global brands and retailers with product development, sourcing, manufacturing, and brand management services. The company remains focused on driving operational efficiencies and long-term strategic growth, even as it navigates profitability challenges in a dynamic global retail environment, it said in a press release. 'While Q1 FY26 reflects a dip in profitability owing to macroeconomic headwinds, we remain firmly on track to deliver on our long-term growth vision. PDS's asset-light, demand-responsive model continues to enable scalable solutions across key global markets. The recent India-UK FTA marks a pivotal step toward enhanced trade flows and deeper partnerships, especially given our strong presence in Europe and the UK,' said Pallak Seth, executive vice chairman at PDS Limited . 'At the same time, the US tariff landscape remains uncertain and requires stabilization to provide greater visibility. As the macro environment stabilizes and our verticals mature, we remain confident in achieving our vision.' 'PDS is undergoing a transformation for building a leaner, more agile organisation focused on long-term value creation. Our cost optimisation programmes are already showing promising early signals, reinforcing our commitment to operational excellence and profitability,' said Sanjay Jain, group CEO . 'We have consolidated teams and enhanced execution agility across the platform. As we streamline underperforming verticals and reallocate capital toward high-potential areas, we remain committed to our guidance. With strong fundamentals, disciplined execution and improved cost structure, we are well positioned for sustained, future-ready growth.' Fibre2Fashion News Desk (SG)
Time of India
24 minutes ago
- Time of India
ED calls Anil Ambani for quizzing on August 5 in 'fraud' case, issues lookout notice
. New Delhi: Enforcement Directorate on Friday put travel curbs on Reliance ADAG chief Anil Ambani by issuing a lookout circular after summoning him for questioning at the agency HQ here on Aug 5 in connection with an alleged money laundering racket involving group entities. The summons were based on findings of probes being conducted by multiple agencies. On Friday, ED searched three premises in Bhubaneswar and one in Kolkata after finding alleged evidence of Rs 68-crore fake bank guarantee provided to Solar Energy Corporation of India Limited on behalf of Reliance NU BESS Ltd/Maharashtra Energy Generation Ltd. The guarantee was generated by a shell entity registered in Bhubaneswar, allegedly linked to ADAG. Reacting to the allegations, ADAG said: "The company and its subsidiaries acted bonafidely and have been a victim of fraud, forgery and cheating conspiracy." Due disclosure made to stock exchanges: Reliance ADAG In its defence, Reliance ADAG said, 'The company has made a due disclosure on this to the stock exchanges on Nov 7, 2024. A criminal complaint has already been lodged with the Economic Offence Wing of Delhi Police against the third party on Oct 16, 2024. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo The due process of law will follow'. 'Multiple undisclosed bank accounts have been detected having suspicious transactions of several crores of rupees ,' ED sources said. 'Key individuals of the group have been found using Telegram app with 'disappearing messages' enabled, indicating attempts to conceal communication.' ED has registered a separate money laundering investigation based on an FIR registered by economic offences wing of Delhi Police in Nov 2024. Searches took place in Bhubaneswar at three premises of Biswal Tradelink and its directors and one premise of an associated operator. The Bhubaneswar entity, now being allegedly linked to Anil Ambani's group, is a mere paper entity, which was registered at a residential property belonging to an associate, and had suspicious financial transactions with multiple companies. Sources said evidence of generating fake bank guarantees was seized during July 24 searches on ADAG companies. Officials alleged the bank guarantee of Rs 68.2 crore submitted to Solar Energy Corporation of India has been established as fake. 'In an attempt to prove that this fake bank guarantee is genuine, the group used a spoofed email domain. Instead of the domain was deployed to send forged communication to SECI, impersonating SBI,' a source added. ED has sought domain registration details of from National Internet Exchange of India.
