Travel Food Services IPO

Posted by thanushaa July 4, 2025

Travel Food Services IPO is a bookbuilt issue of Rs 2000.00 crore. This issue is entirely an offer or sale of 1.82 crore shares with fresh issue.

The IPO opens for subscription on July 7, 2025 and closes on July 9, 2025. The allotment is expected to be finalized on Thursday, July 10, 2025. The price band for the IPO is set at ₹1045 to ₹1100 per share, and the minimum lot size for an application is 13 shares.

Company Summary

Incorporated in 2007, Travel Food Services Limited is an Indian airport travel quick service restaurant (“Travel QSR”) and lounge (“Lounge”). The company’s F&B brand portfolio, comprising 117 partner and in-house brands, is in the operation of 397 Travel QSRs across India and Malaysia, as of June 30, 2024.

Travel QSR business comprises a range of curated food and beverage (“F&B”) concepts across cuisines, brands and formats, which have been adapted to cater to customers’ demands for speed and convenience within travel environments.

Travel Food Business Limited’s lounge business comprises designated areas within airport terminals, accessible primarily by first and business-class passengers, members of airline loyalty programmes, select credit card and debit card holders and members of other loyalty programmes.

The company’s Travel QSR and Lounge businesses are present in 14 airports in India and three airports in Malaysia, as of June 30, 2024. Such airports include the Delhi Airport, Mumbai Airport, Bengaluru Airport, Hyderabad Airport, Kolkata Airport, and Chennai Airport.

As of June 30, 2024, Travel Food Services were present in the Delhi airport for 14 years, the Mumbai airport for 15 years, the Bengaluru airport for 5 years and the Chennai airport for 11 years.

Company Strengths

  • Leading player in the Travel QSR and Lounge sectors in Indian airports.
  • The diversified portfolio of partner F&B brands franchised from high-quality brand partners and in-house F&B brands.
  • Deep understanding of traveller preferences with a focus on delivering a quality customer experience.
  • Experienced management team, supported by our synergistic partnerships with SSP and K Hospitality.

Company Financials

Period Ended

31 Mar 2025

31 Mar 2024

31 Mar 2023

Assets

1902.73

1696.44

1332.32

Revenue

1762.71

1462.40

1103.58

Profit After Tax

379.66

298.12

251.30

EBITDA

676.35

549.99

458.05

Net Worth

1048.45

869.05

651.12

Reserves and Surplus

1040.24

869.74

651.60

Total Borrowing

 

63.78

31.05

                                                                                                                                                                                                           Amount in ₹ Crore                          

Objectives of IPO

The company will not receive any proceeds from the Offer and all the Offer Proceeds will be received by the Promoter Selling Shareholder.

Promoters of the company

SSP Group plc, SSP Group Holdings Limited, SSP Financing Limited, SSP Asia Pacific Holdings Limited and Kapur Family Trust, and Varun Kapur and Karan Kapur are the company promoters.

IPO Details

IPO Date

July 7, 2025 to July 9, 2025

Listing Date

July 14, 2025

Face Value

₹1 per share

Price Band

₹1045 to ₹1100 per share

Lot size

13 shares

Sale Type

Offer for Sale

Issue type

Bookbuilding IPO

Listing at

NSE, BSE

Share Holding Pre Issue

13,16,79,484 shares

Category Reservation Table

Application Category

Maximum Bidding Limits

Bidding at Cut-off Price Allowed

Onlu RII

Upto Rs 2 Lakhs

Yes

Only sNII

Rs 2 Lakhs to Rs 10 Lakhs

No

Only bNII

Rs 10 Lakhs to NII Reservation Portion

No

Onlu employee

                          –

Yes

Employee + RII/NII

1. Employee limit: (In certain cases, employees are given discount if bidding amount is upto Rs 2 Lakhs)

2. If applying as RII: Upto Rs 2 Lakhs

3. If applying as NII: sNII > Rs 2 Lakhs and upto Rs 10 Lakhs and bNII > Rs 10 lakhs  

Yes for Employee and RII/NII

Lot Allocation Details

Application

Lots

Shares

Amount

Retail (Min)

1

13

₹14,300

Retail (Max)

13

169

₹1,85,900

S-HNI (Min)

14

182

₹2,00,200

S-HNI (Max)

67

897

₹9,86,700

B-HNI (Min)

68

910

₹10,01,000

Allotment Schedule

Basis of Allotment

Thu, Jul 10, 2025

Initiation of Refunds

Fri, Jul 11, 2025

Credit of Shares to Demat

Fri, Jul 11, 2025

Tentative Listing Date

Mon, Jul 14, 2025

Cut-off time for UPI mandate confirmation

5 PM on July 9, 2025

IPO Reservation

Investor Category

Shares Offered

QIB Shares Offered

Not more than 50% of the Net Offer

Retail Shares Offered

Not less than 35% of the Net Offer

NII (HNI) Shares Offered

Not less than 15% of the Net Offer

To check allotment, click here

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