IPO

Travel Food Services Limited IPO

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Restaurants

Listed On: Jul 14, 2025 at ₹ 1125.0(NSE)

₹ 14300 /13 Shares

Check Allotment

07 Jul, 2025

Open Date

09 Jul, 2025

Close Date

10 Jul, 2025

Allotment Date

14 Jul, 2025

Listing Date
Price Summary

Last Closing

1,306.00 (18.73%)

52 Week High

1,435.00

52 Week Low

1,008.50

Last Update

31-Oct-2025 3:30 PM
Travel Food Services IPO Issue Details
  • Issue Price ₹1045-1100 per equity share
  • Face Value ₹1 Per Equity Share
  • Total Issue Size 1,81,81,818 shares(aggregating up to ₹2000 crore)
  • Offer For Sale 1,81,81,818 shares(aggregating up to ₹2000 crore)
  • Listing at BSE, NSE
  • List Price 1125.0(NSE)
  • Listing Date 2025-07-14
  • Lead Manager Kotak Mahindra Capital Company Limited
    Hsbc Securities & Capital Markets Pvt Ltd
    ICICI Securities Limited
    Batlivala & Karani Securities India Private Limited
  • Registrar MUFG Intime India Private Limited (Link Intime)
Market Lot Size

Investors can bid for a minimum of 13 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min) 113₹14,300
Retail(max)13169₹1,85,900
SHNI(min) 14182₹2,00,200
SHNI(max) 69897₹9,86,700
BHNI(min) 70910₹10,01,000
Travel Food Services IPO Reservation

Travel Food Services IPO offers total 1,81,85,834 shares. Out of which 36,29,090 (19.96%) allocated to QIB, 27,21,818 (14.97%) allocated to NII,63,50,909 (34.92%) allocated to RII, 40,382 (0.22%) allocated to employees and 54,43,635 (29.93%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered54,43,635 (29.93%)
QIB Shares Offered36,29,090 (19.96%)
NII (HNI) Shares Offered27,21,818 (14.97%)
bNII < ₹10L18,14,545 (9.98%)
sNII < ₹10L9,07,273 (4.99%)
Retail Shares Offered63,50,909 (34.92%)
Employee Shares Offered40,382 (0.22%)
Total Shares Offered1,81,85,834 (100%)
Travel Food Services IPO Documents
DRHP
RHP
ANCHOR
Travel Food Services IPO Details


Travel Food Services IPO is a book-built issue of ₹2000 crores, The total issue size is ₹2000 crores. The IPO of Travel Food Services is priced at ₹1045-1100 per equity share, which has a face value of ₹1 Per Equity Share each, IPO bidding starts from Jul 7, 2025 and ends on Jul 9, 2025. The allotment for Travel Food Services IPO will be finalized on Jul 10, 2025. Travel Food Services IPO will be listed on BSE, NSE, with a tentative listing date fixed as Jul 14, 2025. The company shall list its equity shares on the BSE, NSE. MUFG Intime India Private Limited (Link Intime) is the registrar of the issue.

Retail investors can bid for a minimum of 13 shares, extendable to 14,300. S-HNIs will be able to bid for 182 shares at ₹2,00,200, while B-HNIs can also apply for a bid of 910 shares at ₹10,01,000. The book-running lead manager for the IPO is/are Kotak Mahindra Capital Company Limited, Hsbc Securities & Capital Markets Pvt Ltd, ICICI Securities Limited, Batlivala & Karani Securities India Private Limited.

The total issue ₹2000 crore and having Offer for Sale (OFS) of 1,81,81,818 shares to mop up ₹2000 crore.

The Travel Food Services IPO sets its price band at 1045-1100 for each share. A single application for Travel Food Services Limited IPO must contain at least 13 shares. Sentiment investors need to invest a minimum of 13 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,300 In order to participate in the sNII, investors must purchase at least 14 lots of 182 shares for ₹2,00,200, while the bNII requires 70 lots of 910 shares for an investment of ₹10,01,000.

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Travel Food Services IPO Subscription Analysis And Details
Retail
0.69x
QIB
7.70x
NII
1.58x
bNII
1.74x
sNII
1.26x
Total
2.88x
As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved90,72,72527,21,818
18,14,545    9,07,273		63,50,9091,27,42,199
Day 1 07-07-25 05:00 PM
0.07 x0.06
0.04 x   0.11 x		0.14 x0.10 x
Day 2 08-07-25 05:00 PM
0.18 x0.24
0.23 x   0.25 x		0.28 x0.25 x
Day 3 09-07-25 05:00 PM
7.70 x1.58
1.74 x   1.26 x		0.69 x2.88 x
Total No of Applications
2,19,090
Travel Food Services Valuations
EPS Pre IPO ₹22.63/-
EPS Post IPO ₹/-
P/E Pre IPO 48.6
ROE 35.47%
ROCE 51.40%
RoNW 34.64%
PAT Margin 21.54%
Price to Book Value 18.20
Travel Food Services Company Financials
In Crs.
In Cr.
31-Mar-2531-Mar-2431-Mar-23
Assets1,902.731,623.391,332.32
Revenue1,762.711,462.291,103.58
Profit After Tax379.66298.02251.3
Net Worth1,048.45869.05651.12
Reserves & Surplus1,040.24869.74651.60
About Travel Food Services Company

Founded in 2007, Travel Food Services Limited is an Indian airport travel quick service restaurant (Travel QSR) and lounge (Lounge). The food and beverage (F&B) brand portfolio of 117 partner and in-house brands operates in 397 Travel QSRs in India and Malaysia, as of June 30, 2024.

Travel QSR business includes an assortment of developed food and drink (F&B) ideas by cuisine, brand and format, that have been modified to serve to the needs of speed and convenience of customers in travel settings.

Travel Food Business Limited's lounge business includes defined areas within airport terminals, which are accessible mainly by first and business-class passengers, airline loyalty programmes members, chosen credit card and debit card holders and members of other programmes.

The company's Lounge business is located in 14 airports in India and three airports in Malaysia, as of June 30, 2024. Examples of such airports are the Delhi Airport, Mumbai Airport, Bengaluru Airport, Hyderabad Airport, Kolkata Airport, and Chennai Airport.

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

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Travel Food Services - Promoter(s)

SSP Group plc

SSP Group Holdings Limited

SSP Financing Limited

SSP Asia Pacific Holdings Limited

Kapur Family Trust

Pre Issue Share Holding : 100%

Post Issue Share Holding : 86.19%

Travel Food Services IPO - Issue Objectives
1

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

Travel Food Services IPO - Anchor Investors

Travel Food Services raises Rs 598 crore from anchor investors ahead of Rs 2,000 crore IPO.

Among the anchor investors are ICICI Prudential Mutual Fund (MF), Axis MF, Kotak MF, Baroda BNP Paribas MF, Abu Dhabi Investment Authority, Fidelity and Government Pension Fund Global

Travel Food Services IPO - Peers Comparison
P/B RatioP/E RatioRoNWRevenue(in Cr.)
Travel FoodN/AN/A34.64%N/A
Jubilant FoodworksN/A205.810.02%N/A
Devyani InternationalN/A20970.84%N/A
Sapphire FoodsN/A5481.38%N/A
Westlife FoodworldN/A9552.01%N/A
Restaurant Brands AsiaN/AN/A23.80%N/A
Strength
Travel Food Services held 24% Travel QSR market share in FY24.
Operated 313 out of 340 Travel QSR outlets inside airports.
Led Lounge sector with 45% market share across Indian airports,Operates 24 Lounges across eight key Indian airports by FY24.
Present at 14 major airports including Delhi and Mumbai terminals.
Weakness
Top 5 airports contributed 85.21% revenue in Q1 FY25.
Business depends on 78 franchised F&B brand partner relationships.
Tough competition from HMSHost, Encalm and other QSR operators
Failure to get approvals can disrupt Lounge and QSR operations.
Contact Details

Travel Food Services

Block-A South Wing 1st Floor, Shiv Sagar Estate, Dr. Annie Besant Road,Worli Mumbai 400018, Maharashtra, India

+91 22 4322 4322

cs@travelfoodservices.com

https://www.travelfoodservices.com/

Registrar Contact Details

MUFG Intime India Private Limited (Link Intime)

+91-22-4918 6270

travelfood.ipo@linkintime.co.in

https://in.mpms.mufg.com/Initial_Offer/public-issues.html