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 (https://linkintime.co.in/initial_offer/public-issues.html)
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 (https://www.bseindia.com/investors/appli_check.aspx)
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.
