Travel Food Services IPO opens on July 7; price band fixed at Rs 1,045–1,100/share
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Mumbai-based Travel Food Services is set to launch its Rs 2,000-crore initial public offering (IPO) on July 7, with the issue closing on July 9. The price band has been fixed at Rs 1,045 to Rs 1,100 per share.The IPO is entirely an offer-for-sale (OFS) by promoter Kapur Family Trust , meaning no fresh equity will be issued and all proceeds will go to the selling shareholder. A discount of Rs 104 per share will be offered to eligible employees.The anchor book will open on July 4, and the allotment of shares is expected by July 10. Trading on the stock exchanges is scheduled to begin on July 14.Also Read: 10 Nifty smallcaps with up to 29 buy calls; analysts see up to 26% upside Investors can bid for a minimum of 13 equity shares and in multiples thereof. Of the total offer, 50% is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.Promoted by the UK-based SSP Group plc and the Kapur Family Trust, Travel Food Services operates India's largest network of travel quick-service restaurants (QSRs) and airport lounges . Out of its 413 outlets, 384 are located in airports. The company has a presence across 14 Indian airports and three overseas locations—two in Malaysia and one in Hong Kong.It also runs 37 lounges, including 28 private airport lounges in India, covering 10 domestic airports—making it the country's largest lounge network.Financially, the company posted a 27.4% rise in profit to Rs 379.7 crore in FY25, with revenue up 20.9% year-on-year to Rs 1,687.7 crore.SEBI approved the IPO on April 22, following the company's draft filing on December 10, 2024. The issue is being managed by Kotak Mahindra Capital, HSBC Securities, ICICI Securities, and Batlivala & Karani Securities.
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