Latest news with #TravelFoodServices'
Economic Times
6 days ago
- Business
- Economic Times
Travel Food Services IPO allotment today. Check status, GMP and other details
Travel Food Services' Rs 2,000 crore IPO allotment status is expected soon. The IPO was subscribed 3.03 times. Qualified institutional buyers showed strong interest. Retail portion remained undersubscribed. The company raised funds from anchor investors. Allotment details will be available online. Refunds and demat credit are scheduled. The stock is set to debut on BSE and NSE. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The allotment status for Travel Food Services Ltd's Rs 2,000 crore IPO, one of the marquee consumer-focused listings this year, is expected to be finalized on Thursday, July 10. Investors can check their allotment on the registrar's website — MUFG Intime India Pvt Ltd (Link Intime) — once IPO, which opened on July 7 and closed on July 9, was a pure offer for sale (OFS) of 1.82 crore equity shares by existing shareholders including SSP Group and the Kapur Family Trust. The price band was set at Rs 1,045 to Rs 1,100 per share, and the issue was subscribed 3.03 times per exchange data, the qualified institutional buyers (QIBs) portion was subscribed 8.10 times, while non-institutional investors (NIIs) subscribed 1.67 times. The retail portion, however, remained undersubscribed at 0.73 times, despite a relatively modest minimum investment requirement of Rs 14,300 per lot (13 shares). The employee portion was subscribed 1.81 of the IPO opening, the company raised Rs 598.8 crore from anchor investors including several domestic mutual funds and global status can be checked on Link Intime's official website ( Select "Travel Food Services" from the dropdownEnter your PAN, Application Number, or DP/Client IDClick on 'Search' to view allotment detailsOr via the BSE ( Select 'Equity' as issue typeChoose 'Travel Food Services' from the dropdownEnter your application number and PANRefunds will be initiated on July 11, and shares will be credited to demat accounts the same day. The stock is expected to debut on the BSE and NSE on July grey market premium (GMP) is currently flat, indicating the stock may list around its issue price of Rs 1,100, reflecting a cautious sentiment from informal markets despite strong institutional in 2007, Travel Food Services Ltd is a leading operator of quick service restaurants (QSRs) and airport lounges in India and Malaysia. With a portfolio of 117 partner and in-house brands, it operates 397 QSRs and lounges across 14 Indian airports and 3 in Malaysia. Major airport hubs include Delhi, Mumbai, Bengaluru, Chennai, and FY25, the company reported Rs 1,762.7 crore in revenue and Rs 379.66 crore in net profit, with healthy EBITDA margins of 40%. The business benefits from long-term partnerships, high entry barriers, and the rising footfall in Indian air travel. Its post-issue market cap is expected to be around Rs 14,484 crore.
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Business Standard
7 days ago
- Business
- Business Standard
Travel Food Services IPO fully subscribed as institutions drive demand
Indian airport restaurant and lounge operator Travel Food Services' $234 million IPO was hauled over the finish line on Wednesday by institutional investors as risk-averse retail investors shied away amid US trade deal concerns. The IPO, India's ninth-largest this year, came in a month when firms are expected to raise $2.4 billion through initial share sales. It was subscribed 1.89 times, driven by institutional bids that were 5.23 times the shares reserved for them. Meanwhile, retail bids stood at a 0.44 times as of 2:12 p.m. IST. "The overhang of a trade deal with the US is one of the factors likely keeping risk averse non-institutional and retail investors away from the TFS IPO," said Sunny Agarwal, head of fundamental equity research at SBICAPS Securities. India, the world's third-largest aviation market, is witnessing a sharp uptick in travel demand and as disposable incomes rise, passengers are spending more on food, beverages, and premium services such as lounges. Ratings agency CRISIL projects India's airport quick service restaurant sector to grow 17 per cent-19 per cent annually to 170 billion rupees to 180 billion rupees by fiscal 2034, while the lounge sector is seen growing by as much as 24 per cent to 165 billion rupees. Travel Food Services, a joint venture between UK-based SSP Group and India's K Hospitality Corp, runs restaurants such as Jamie Oliver's Pizzeria, Krispy Kreme and KFC at 18 airports across India, Malaysia and Hong Kong, as well as 37 lounges. Its three-day IPO that ends on Wednesday is an offer for sale, with its largest shareholder, the Kapur Family Trust, offloading a stake worth 20 billion rupees, or 13.81 per cent, at the top end of the 1,045 rupees to 1,100 rupees price band. TFS had on Friday allotted shares worth nearly 6 billion rupees to large institutional buyers, including sovereign wealth funds ADIA and Norges.
Economic Times
07-07-2025
- Business
- Economic Times
Travel Food Services IPO subscribed 5% on day 1; Check GMP, price band and key details
On its debut, Travel Food Services' IPO garnered a modest 2% subscription, with retail investors showing slightly more interest at 3%. Non-institutional investors accounted for 1% of the uptake, while participation from Qualified Institutional Buyers is still awaited. Previously, the company secured Rs 599 crore from anchor investors. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads About Travel Food Services IPO About the company The initial public offering (IPO) of Travel Food Services was subscribed 5% by 12:03 pm on the first day of bidding, Monday, July issue received bids for 6.25 lakh shares against 1.34 crore shares on offer. The retail investor portion was subscribed 8%, followed by 3% subscription in the non-institutional investor (NII) category. Qualified Institutional Buyers (QIBs) were yet to participate at the time of reporting. The employee reserved quota saw a 25% of the public issue, the company raised Rs 599 crore from anchor investors by allocating 54,43,635 equity shares at Rs 1,100 apiece on Friday, July anchor investors include ICICI Prudential Mutual Fund, Abu Dhabi Investment Authority, Axis Mutual Fund, Kotak Mutual Fund, HDFC Life Insurance , Fidelity, SBI General Insurance, and Tata AIA Life Insurance, among company has set the price band for the IPO at Rs 1,045 to Rs 1,100 per share. The issue is a 100% offer for sale (OFS), with no fresh equity being can place bids for a minimum of 13 equity shares and in multiples of 13 per the offer structure, 50% of the issue is reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors , and 15% for Non-Institutional Investors (NIIs).Promoted by UK-based SSP Group plc and the Kapur Family Trust, Travel Food Services operates India's largest airport food and lounge network, with 413 outlets, of which 384 are located at airports across 14 Indian cities. It also runs 37 airport lounges, including 28 private ones, making it the largest lounge operator in company also operates internationally at three airports—two in Malaysia and one in Hong FY25, Travel Food Services reported a 27.4% year-on-year rise in profit to Rs 379.7 crore, while revenue grew 20.9% to Rs 1,687.7 crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
