Travel Food Services IPO to list today; modest GMP seen in grey market
, a leading player in airport-based quick service restaurants (QSRs) and lounges, is all set to debut on the bourses on Monday following the closure of its Rs 2,000 crore IPO earlier this week. The issue, which was entirely an offer for sale (OFS) by existing promoters and investors, was priced at Rs 1,100 per share.
The IPO received a moderate response from investors, closing with 3.03x overall subscription. The QIB (Qualified Institutional Buyer) category saw the strongest demand at 8.10x, while retail participation remained muted at just 0.73x. The NII segment was subscribed 1.67x, reflecting cautious optimism among high-net-worth individuals.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Play War Thunder now for free
War Thunder
Play Now
Undo
Ahead of listing, the stock is trading at a GMP of around Rs 22, or roughly 2% over the issue price, suggesting a flat-to-mildly positive debut if sentiment holds.
Travel Food Services
, backed by the UK-based SSP Group, operates 397 QSR outlets and lounges across 14 airports in India and three in Malaysia, including hubs like Mumbai, Delhi, Bengaluru, and Chennai.
The company boasts a diverse F&B brand portfolio of 117 partner and in-house brands, catering to the growing demand for food and travel services in high-footfall transit locations.
Live Events
Financially, the company reported steady earnings growth in FY25, supported by strong EBITDA margins (40%) and ROE of 35.47%. However, the IPO's valuation at a P/E of 48.6x has drawn some concern, especially given its entirely secondary nature, with no fresh capital infusion.
While anchor investors committed nearly Rs 599 crore ahead of the issue, the lack of overwhelming retail traction and limited upside in GMP indicate a measured market outlook for the listing.
With a first-mover advantage in India's niche airport F&B segment and strong international backing, the company is well-positioned for long-term growth, though near-term listing fireworks appear unlikely.
(
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
Time of India
27 minutes ago
- Time of India
Vivo expands premium lineup with X200 FE and the Foldable X Fold5
Vivo today launched two new additions to its premium X Series lineup in India, the X200 FE and the X Fold5. The new devices expand the brand's flagship portfolio, with an emphasis on performance, foldable design, and AI-powered features aimed at both tech-savvy users and mainstream consumers. Vivo X200 FE—Compact Flagship The vivo X200 FE is designed for users who prioritise performance and imaging in a compact form factor. Weighing 186g, the phone features a 6.31-inch display and introduces vivo's ZEISS co-engineered imaging system to a more portable device. It includes a 50MP main camera, a 50MP telephoto lens, and an 8MP ultra-wide camera, with support for ZEISS Multifocal Portrait and Street Photography modes. vivo also brings its VCS True Color technology and various portrait tools, such as Stage Portrait Studio and ZEISS Style filters, to enhance versatility across shooting scenarios. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Indonesia (Prices May Surprise You) Container House | Search ads Search Now Undo The phone is powered by the MediaTek Dimensity 9300+ chipset and houses a 6500mAh battery with 90W FlashCharge support. It also carries IP68/IP69 ratings for water and dust resistance. The X200 FE will be available in three finishes: Amber Yellow, Luxe Grey, and Frost Blue. Vivo X Fold 5—Foldable Flagship vivo has launched the X Fold5 in India, its latest entry in the foldable smartphone space, combining high-end hardware with a slim, durable design. Weighing 217 g and measuring just 0.92 cm thick, the device features second-generation armor architecture and a carbon fibre support hinge. It also boasts triple IP certification (IPX8, IPX9, IPX9+) and is rated for resistance against dust, water, and low temperatures, making it one of the most rugged foldables currently available. Under the hood, the X Fold5 runs on the Snapdragon 8 Gen 3 chipset, with LPDDR5X RAM and UFS 4.1 storage. It also packs India's largest battery on a foldable, a 6000mAh unit supported by 80W wired and 40W wireless charging. For imaging, the X Fold5 carries a ZEISS co-engineered camera setup. This includes a 50MP main sensor (Sony IMX921), a 50MP telephoto camera with 3x optical and up to 100x digital zoom, and a 50MP ultra-wide lens with a 120° field of view. The software experience emphasizes productivity, with features like Origin Workbench, Circle to Search with Google, Gemini Assistant, and vivo's own DocMaster tool, positioning the X Fold5 as more than just a foldable but a high-end device aimed at users who want flagship performance with added flexibility. Price & Availability The vivo X200FE and vivo X Fold5 will be available across major retail outlets, vivo India e-store, and online platforms starting 23rd July and 30th July, respectively. The Vivo X200 FE is available in two variants. INR 54,999 for the 12+256GB variant INR 59,999 for the 16+512GB variant The Vivo X Fold 5 is available in a single configuration of 16GB RAM + 512GB storage. It is priced at INR 149,999.
Hindustan Times
29 minutes ago
- Hindustan Times
Mivi AI Buds: Human-like AI, local manufacturing, and voice avatars- All made in India
India-based audio brand Mivi is making headlines with the launch of its first AI-driven personal assistant, Mivi AI, and the upcoming release of Mivi AI Buds. Designed and developed entirely in India, the new TWS earbuds aim to deliver human-like conversations through intelligent AI Avatars, setting a new benchmark in audio tech. Mivi AI Buds are India's first AI-powered TWS earbuds offering human-like conversations through personalised Avatars.(Mivi) Speaking to Hindustan Times Technology, Midhula Devabhaktuni, co-founder of Mivi, highlighted the unique capabilities of the assistant: 'It can be your personal news reporter, chef to provide instructions on how to cook, your wellness coach, your nutritionist that reminds you of daily targets.' Unlike conventional voice assistants that follow a Q&A format, Mivi AI offers contextual and memory-based conversations. It evolves over time by learning user habits, preferences, and even tone of communication. 'It will start learning about the user and create a persona, learning about preferences, dislikes, response styles, habits, and as simple as favourite foods,' Midhula explained. Also read: Mivi AI adds human-like conversation capabilities on earbuds To protect user privacy, Mivi has implemented end-to-end encryption. Users will be able to customise or delete specific pieces of information—like preferred cuisines or interests—via a companion app. 'Users will also be able to view the data Mivi AI has gathered about them and choose to remove it,' she added. The AI Avatars, including Chef, Guru, and Wellness Coach, are core to the experience. 'Avatars provide context-based and tailored responses. For example, the Chef Avatar won't just tell you how to marinate chicken—it understands time, waits during the marination, and resumes with the next step after,' she explained. 'It's like your mother guiding you through the process.' Midhula revealed that Mivi developed its own custom chip to process AI interactions in real time, embedded within the compact design of the earbuds. 'We built a neural network trained on thousands of voice samples from different Indian regions, where language and accent vary every hundred kilometres,' she said. The entire system—from hardware to firmware and app interface—has been built from scratch at Mivi's Hyderabad facility. Also read: Human trials for Google's drugs made by AI set to begin soon, possibly changing how we perceive healthcare The company is expecting strong demand following the launch. 'We are targeting to do 5 lakh units in year one for the Mivi AI Buds,' said Midhula. 'The technology and devices are manufactured, designed, and developed in India. We have about 15,500 people working, with about 80% being women.' Mivi is also preparing to launch India's largest audio manufacturing unit, spread across two acres, in the coming months. When asked why Mivi calls its product the world's first 'human-like AI,' Midhula pointed out, 'Mivi AI is not just an AI tool like Google Assistant or ChatGPT. It's a natively AI audio product built for fluid, natural, voice-first interaction.' She emphasised that Mivi AI doesn't rely on screens or typing and instead brings conversation back to the centre of tech. 'Mivi AI is India's answer to the world of where India's AI lies,' she said. 'Everybody is building something, and we are consuming. This is our chance to give it to the world and say, 'India is also making leaps and bounds in AI.' Mobile Finder: iPhone 17 Pro Max LATEST specs, features, and price
Business Standard
30 minutes ago
- Business Standard
Tata Consumer Products Ltd down for fifth straight session
Tata Consumer Products Ltd is quoting at Rs 1073.7, down 0.29% on the day as on 13:19 IST on the NSE. The stock tumbled 5.38% in last one year as compared to a 1.83% rally in NIFTY and a 6.71% fall in the Nifty FMCG index. Tata Consumer Products Ltd is down for a fifth straight session today. The stock is quoting at Rs 1073.7, down 0.29% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.45% on the day, quoting at 25036.9. The Sensex is at 82130.42, down 0.45%.Tata Consumer Products Ltd has lost around 0.9% in last one Nifty FMCG index of which Tata Consumer Products Ltd is a constituent, has increased around 2.12% in last one month and is currently quoting at 55910.25, up 0.23% on the day. The volume in the stock stood at 4.88 lakh shares today, compared to the daily average of 11.12 lakh shares in last one month. The benchmark July futures contract for the stock is quoting at Rs 1076.6, down 0.41% on the day. Tata Consumer Products Ltd tumbled 5.38% in last one year as compared to a 1.83% rally in NIFTY and a 6.71% fall in the Nifty FMCG index. The PE of the stock is 89.07 based on TTM earnings ending March 25.
