Travel Food Services IPO: Company raises Rs 599 crores from 33 anchor investors
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Mumbai-based Travel Food Services Limited has garnered Rs 599 crore from anchor investors ahead of its initial public offering (IPO) that opens for public subscription on Monday, July 7, 2025.Late Friday, the company informed the exchanges that it allocated 54,43,635 equity shares at Rs. 1,100 per share on Friday, July 4, 2025, to anchor investors.Some of the marquee Institutions that participated in the anchor includes ICICI Prudential Mutual Fund , Abu Dhabi Investment Authority, Axis Mutual Fund , Fidelity Investment Trust Emerging Asia Fund, Government Pension Fund Global, Kotak Mutual Fund, Baroda BNP Paribas Mutual Fund, WhiteOak Capital Flexi Fund, Bajaj Allianz Life Insurance Company, HDFC Life Insurance Company Tata AIA Life Insurance , Turnaround Opportunities Fund, IKIGAI Emerging Equity Fund, JM Financial Mutual Fund, Amundi Funds New Silk Road, Samsung India Securities Master Investment Trust Equity, Bharti AXA Life Insurance, Helios Flexi Cap Fund, SBI General Life Insurance Company, Necta Bloom VCC –Regal Fund, Integrated Core Strategies (Asia) Pte. Ltd, Societe Generale - ODI.Out of the total allocation of 54,43,635 equity shares to the anchor investors, 23,67,527 equity shares were allocated to 7 domestic mutual funds through a total of 15 schemes, i.e. 43.49% of the total anchor book size.Kotak Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited and Batlivala & Karani Securities India Private Limited, are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the issue.The IPO is entirely an offer for sale up to equity shares aggregating to Rs 2,000 crore by Kapur Family Trust.The 3-day IPO will close on Wednesday, July 9, 2025 and the company has set the price band for the offer at Rs 1,045 – Rs 1,100 per equity share.The Offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional investors, and not less than 35% of the offer shall be available for allocation to retail individual bidders.Investors can bid for a minimum of 13 equity shares and in multiples of 13 equity shares thereafter.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—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.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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