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News18
4 days ago
- Business
- News18
Travel Food Services IPO Lists At 2.3% Premium, Shares Slip Into Red: Should You Buy, Hold Or Sell?
Travel Food Services IPO Listing: Shares of Travel Food Services Ltd listed at just a 2.36% premium or at Rs 1,126 apiece on the BSE as against its IPO issue price of Rs 1,100. Travel Food Services IPO Listing: Travel Food Services Ltd made a weak stock market debut on Monday, with its shares listing at just a 2.36% premium or at Rs 1,126 apiece on the BSE as against its IPO issue price of Rs 1,100. After the listing, the shares declined into red and were trading lower by around 0.75% at Rs 1,086, as of 10:15 am. On the NSE, the shares of Travel Food Services listed at a premium of 2.2% or at Rs 1,125 apiece. The listing is in line with market expectations as reflected in its pre-listing GMP, which stood at 2.27%. The company's market cap stood at nearly Rs 14,500. The Travel Food Services IPO was opened between July 7 and July 9. It received an overall subscription of 2.88 times at the end of three-day subscription window closing. The Qualified Institutional Buyers (QIBs) was subscribed their portion 7.70 times, while the Non-Institutional Investors (NIIs) category was subscribed 1.58 times. The price band of the mainboard IPO, which aims to raise Rs 2,000 crore, was fixed in the range of Rs 1,045 to Rs 1,100. Travel Food Services, founded in 2007, operates 397 quick service restaurants (QSRs) and airport lounges across 17 airports in India and Malaysia, with a portfolio of 117 in-house and partner brands. SBI Securities highlighted TFS as a 'proxy to the Indian aviation growth story", given its strong presence across major airport terminals and upcoming concessions at Greater Noida and Navi Mumbai airports. The brokerage noted that the company's brand portfolio includes a healthy mix of in-house and third-party QSR brands. 'At the upper price band of Rs 1,100, the stock is likely to trade at 39.9x FY25 EPS, which is at a discount to listed QSR companies. TFS has superior margins and return ratios along with a strong balance sheet. We recommend investors to 'subscribe' to the issue at the cut-off price," SBI Securities said. Canara Bank Securities is positive on the company's airport-centric model, citing its competitive moat created by global partnerships, strong brand equity, and high-traffic locations. 'From a valuation standpoint, the IPO is priced attractively, placed below the sector average and trades lower than the peer average in terms of price-to-book value (P/BV). Given its strong growth trajectory, first-mover advantage, and resilient business model in a niche, high-growth segment, we recommend a 'subscribe' rating for both listing gains and long-term investment," the brokerage added. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
4 days ago
- Business
- Mint
Travel Food Services share price Live: GMP, experts hint lukewarm return upon listing, check listing time, more
Shares of Travel Food Services Ltd are set to make its debut in the Indian stock market today. Travel Food Services IPO listing was scheduled at 10:00 IST on the bourses today (Monday, July 14). Travel Food Services shares was part of Special Pre-open Session (SPOS), as per BSE notice. Experts predicted that the Travel Food Services IPO expected listing price is likely to see slight gains compared to its issue price. Travel Food Services IPO allotment status was finalised on Thursday, July 10. Travel Food Services IPO opened for subscription on Monday, July 7 and closed on Wednesday, July 9. Travel Food Services IPO subscription status on the last bidding day was 2.88 times. The company fixed a price band of ₹ 1,045 to ₹ 1,100 per share for its IPO. Travel Food Services established its inaugural travel quick-service restaurant (QSR) in 2009. It is backed by SSP Group plc (SSP) along with its affiliates, including SSP Group Holdings Ltd, SSP Financing Ltd, SSP Asia Pacific Holdings Ltd, and the Kapur Family Trust, Varun Kapur, and Karan Kapur. Based in Mumbai, Travel Food Services boasts a varied lineup of food and beverage (F&B) concepts, which encompasses fast food, cafes, bakeries, food courts, and bars, mainly situated in airports and select highway locations. As of June 30, 2024, the company operates in 14 airports across India, including key hubs such as Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, and Chennai, as well as three airports in Malaysia. Travel Food Services IPO GMP today or Travel Food Services IPO grey market premium is +25. This indicates Travel Food Services' share price was trading at a premium of ₹ 25 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Travel Food Services share price was indicated at ₹ 1,125 apiece, which is 2.27% higher than the IPO price of ₹ 1,100. After analyzing the grey market activities from the last 18 sessions, the present GMP ( ₹ 25) indicates a trend towards declining values. The minimum GMP recorded is ₹ 0.00, whereas the maximum GMP reached is ₹ 92, as per the experts at 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
10-07-2025
- 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.
Time of India
10-07-2025
- Business
- Time of India
Travel Food Services IPO allotment today. Check status, GMP and other details
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 activated. The 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 overall. As 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 times. Ahead of the IPO opening, the company raised Rs 598.8 crore from anchor investors including several domestic mutual funds and global institutions. Allotment status can be checked on Link Intime's official website ( ) Live Events Select "Travel Food Services" from the dropdown Enter your PAN, Application Number, or DP/Client ID Click on 'Search' to view allotment details Or via the BSE ( ) Select 'Equity' as issue type Choose 'Travel Food Services' from the dropdown Enter your application number and PAN Refunds 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 14. The 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 participation. Incorporated 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 Hyderabad. For 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.
News18
09-07-2025
- Business
- News18
Travel Food Services IPO Subscribed 26% On Day 2: Should You Apply? Check GMP, Price, Lot Size, Review
Travel Food Services IPO GMP Today: The GMP of the Travel Food Services IPO remains low at 0.82%, indicating weak sentiments among investors. Travel Food Services IPO GMP Day 2: The initial public offering of Travel Food Services Ltd, which opened on July 7, has so far received subdued response among investors. The price band of the mainboard IPO, which aims to raise Rs 2,000 crore, has been fixed in the range of Rs 1,045 to Rs 1,100. On the second day of bidding on Tuesday, the issue received a 0.26 times subscription, garnering bids for 33,19,524 shares as against the 1,27,42,199 shares on offer. The retail and NII participation stood at 0.30x and 0.25x, respectively. The QIB category also received a 0.19x subscription. The IPO's grey market premium (GMP) also remains low at 0.82%, indicating weak sentiments among investors. The three-day IPO will be closed on July 9. Travel Food Services, founded in 2007, operates 397 quick service restaurants (QSRs) and airport lounges across 17 airports in India and Malaysia, with a portfolio of 117 in-house and partner brands. Travel Food Services IPO GMP Today According to market observers, unlisted shares of Travel Food Services Ltd are currently trading at Rs 1,109 against its upper IPO price of Rs 1,100. It means a grey market premium or GMP of Rs 9, which is 0.82% over its issue price, indicating flat listing. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. The basis of allotment of the Travel Food Services IPO will be finalised on July 10. Its listing will take place on July 14, on both BSE and NSE. The price band of the IPO has been fixed in the range of Rs 1,045 to Rs 1,100 apiece. Its minimum lot size is 13. It means investors will have to apply for a minimum of 13 shares or in multiple thereof. Retail investors require a minimum capital of Rs 13,585 to apply for the IPO. Travel Food Services IPO: Should You Apply? Most brokerage firms have given a 'subscribe for long-term' rating to the Travel Food Services (TFS) IPO, citing the company's strong positioning in airport-focused food services and its growth potential in India's expanding aviation and travel ecosystem. SBI Securities highlighted TFS as a 'proxy to the Indian aviation growth story", given its strong presence across major airport terminals and upcoming concessions at Greater Noida and Navi Mumbai airports. The brokerage noted that the company's brand portfolio includes a healthy mix of in-house and third-party QSR brands. 'At the upper price band of Rs 1,100, the stock is likely to trade at 39.9x FY25 EPS, which is at a discount to listed QSR companies. TFS has superior margins and return ratios along with a strong balance sheet. We recommend investors to 'subscribe' to the issue at the cut-off price," SBI Securities said. Canara Bank Securities is positive on the company's airport-centric model, citing its competitive moat created by global partnerships, strong brand equity, and high-traffic locations. 'From a valuation standpoint, the IPO is priced attractively, placed below the sector average and trades lower than the peer average in terms of price-to-book value (P/BV). Given its strong growth trajectory, first-mover advantage, and resilient business model in a niche, high-growth segment, we recommend a 'subscribe' rating for both listing gains and long-term investment," the brokerage added. Arihant Capital Markets also gave a 'subscribe' rating, pointing to TFS's market leadership in airport QSRs and lounges, operational efficiency, and a diversified brand mix. 'Ongoing expansion in domestic and international airports, along with digital initiatives to boost like-for-like sales, should drive sustained double-digit revenue growth. The issue is valued at a P/E ratio of 38.15 times, based on FY25 EPS of Rs 28.83 per share," the brokerage said. BP Equities emphasised TFS's long-term growth potential aligned with India's aviation trajectory and its strategic locations. 'The issue is valued at a P/E of 39.9 times, based on FY25 earnings, which represents a discount to listed QSR companies. Therefore, we recommend a 'subscribe' rating for the issue," it said. Travel Food Services IPO: Other Info The IPO is entirely an offer for sale (OFS) of shares worth Rs 2,000 crore by promoter Kapur Family Trust. The offer includes reservations for subscriptions by eligible employees. Since the IPO is entirely an OFS, the company will not receive any funds from the issue and the proceeds will go to the selling shareholder. It raised nearly Rs 600 crore from anchor investors, days before its IPO opening for public subscription. Travel Food Services launched its first travel quick-service restaurant (QSR) outlet in 2009. It is promoted by SSP Group plc (SSP) and its affiliates SSP Group Holdings Ltd, SSP Financing Ltd, SSP Asia Pacific Holdings Ltd along with the Kapur Family Trust, Varun Kapur and Karan Kapur. SSP, an FTSE 250 company listed on the London Stock Exchange, is recognised as a global leader in the Travel Food & Beverage (F&B) sector based on revenue in 2024, as per the Crisil report. The Kapur Family Trust operates under the flagship brand K Hospitality, which oversees and invests in several hospitality and food service businesses, including Travel Food Services (collectively referred to as K Hospitality). Headquartered in Mumbai, Travel Food Services' portfolio features a diverse selection of food and beverage (F&B) concepts, including fast food, cafes, bakeries, food courts and bars, primarily located in airports and some highway locations. The company's presence spans 14 airports in India, including major hubs like Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata and Chennai, as well as three airports in Malaysia, as of June 30, 2024. Its QSR outlets are predominantly located within airports, with select locations along highways. It also operated 31 lounges in India and Malaysia as of the same date and expanded internationally by opening a new lounge in Hong Kong in July this year. The international brands include renowned names such as KFC, Pizza Hut, Wagamama, Coffee Bean & Tea Leaf, Jamie Oliver's Pizzeria, Brioche Doree, Subway, and Krispy Kreme. The regional Indian brands in its network feature popular chains such as Third Wave Coffee, Hatti Kaapi, Sangeetha, Bikanervala, Wow Momo, The Irish House, JOSHH, Adyar Ananda Bhavan and Bombay Brasserie. top videos View all Kotak Mahindra Capital Company, HSBC Securities and Capital Markets (India) Pvt Ltd, ICICI Securities and Batlivala & Karani Securities India are the book-running lead managers to the issue. The equity shares are proposed to be listed on the NSE and the BSE. About the Author Mohammad Haris Haris is Deputy News Editor (Business) at He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : initial public offering (IPO) IPO view comments Location : New Delhi, India, India First Published: July 08, 2025, 10:23 IST News business » ipo Travel Food Services IPO Subscribed 26% On Day 2: Should You Apply? Check GMP, Price, Lot Size, Review Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
