Gourmet Gains Ahead? Travel Food Services IPO Draws a Crowd with Its Winning Recipe

Finowings

Travel Food Services Limited, India's biggest airport food and lounge company, is launching its highly anticipated ₹2,000 crore Initial Public Offering (IPO) on Monday, July 7, 2025. The issue will remain open for subscription up to July 9 with a likely listing date of July 14 on BSE and NSE.

Key Highlights:

IPO Size: Entirely an Offer for Sale (OFS) of 1.82 crore shares by promoter Kapur Family Trust. Fresh issue shares will be zero; proceeds to selling shareholders.
Price Band: ₹1,045–₹1,100 per share.
Lot Size: Minimum size of application is 13 shares; minimum amount required by retail investors to invest in the upper band is ₹13,585–₹14,300.
Investor Quota: 50% for Qualified Institutional Buyers (QIBs), 35% for retail and 15% for Non-Institutional Investors (NIIs).
GMP (Grey Market Premium): ₹49–₹50, reflecting a potential 4% listing premium over the higher price band.
Anchor Investors: Raised close to ₹600 crore from 33 marquee anchor investors like ICICI Prudential MF, Axis MF, Kotak MF, Abu Dhabi Investment Authority, and Fidelity, a day or so before the IPO.
Business Profile: Has 413 stores (384 airport stores across 14 Indian cities), 37 airport lounges (28 private), and overseas operations in airport stores in Malaysia and Hong Kong.
Financials: Registered a 27.4% YoY increase in profit at ₹379.7 crore and a 20.9% increase in revenue at ₹1,687.7 crore in FY25.
Promoters: SSP Group plc, UK and the Kapur Family Trust.
Lead Managers: Kotak Mahindra Capital, HSBC Securities, ICICI Securities, Batlivala & Karani Securities.

Aided by strong anchor interest and a healthy airport F&B stronghold, Travel Food Services' IPO is witnessing strong institutional and retail investor demand.

Source: The Economic Times, Chittorgarh, Moneycontrol, Groww