- By Shreyansh Mangla
- Tue, 08 Jul 2025 04:05 PM (IST)
- Source:JND
Travel Food Services IPO: Travel Food Services Limited, a Quick Service Restaurant (QSR) that runs its services at airport lounges across India, is a prominent name in the fast food delivery industry. Now this Quick Service Deliveries Industry player has decided to sell off its shares through an initial public offering (IPO) to grow bigger.
The IPO is claimed by Kupur Family Trust, so the Offer For Sale (OFS) is being made, for Rs 2000 crore by the trust. The company was trying to sell a number of shares on its very first day of opening, but not many people showed interest in buying them right away. The start was quite slow which can be guessed from the fact that the company found buyers only for 10 per cent of shares that they wanted to sell.
The Travel Food IPO opened on Monday, July 7, 2025, and will close on July 9, 2025. Its face value per share was Rupee 1 per equity share. The stocks were traded between the price band of Rs 1,045 to Rs 1,100 per equity share.
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The allotment finalisation will be made on July 10, 2025 and the initiation of refunds will begin on July 11, 2025. The credit of shares to demat account will begin on July 11, 2025 and the tentative listing of shares will begin on July 14, 2025. Listing will be displayed on BSE and NSE and its official registrar is MUFG Intime India Private Limited. Its lead managers include Kotak Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India), Private Limited, ICICI Securities Limited and Batlivala and Karani Securities India Private Limited.
Travel Food Services IPO Structure and Size
The issue size is up to 1,81,81,818 equity shares, which makes about Rs 2000 crore. It is Book Building Issue Type, meaning the final price of the shares won't be fixed upfront but will be determined through a bidding process by investors within a specified price range, allowing the market to help discover a fair price for the shares based on demand.
Travel Food Services IPO: Pricing, Lot Size and Investor Categories/Allocation
The price band has been set between Rs 1,045 to Rs 1,100 per equity share with a minimum lot size of 13 equity shares and minimum retail application amount set at Rs 14,300 per lot. The maximum retail application amount is set at Rs 1,85,900 per 13 lots per 169 shares. The Employee Discount being given is Rs 104 per share for eligible employees.
Allocation Breakdown
For Qualified Institutional Buyers (QIBs), not more than 50 per cent of the net offer. For non-institutional investors (NIIs), not less than 15 per cent of the net offer (further divided into sNII and bNII). For retail individual investors (RIIs), not less than 35 per cent of the net offer. The Employee Reserved Portion stands at 40,382 shares.
Grey Market Premium (GMP)
As of July 8, 2025, the Grey Market Premium (GMP) for Travel Food Services IPO is reportedly around Rs 16, which is a not healthy indicator of a good start.
This is just a gain of 1.45 per cent over the upper price band of Rs 1,100, suggesting that now the listed price might go upto Rs 1,116. Further, it's a point to be noted that GMP has dropped down from Rs 30 to Rs 16, showing the unexpected loss of excitement and cooling down of profits of unofficial traders.
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Travel Food Services IPO: How To Check Your Allotment Status
The allotment will be finalised by July 10, 2025, one can check their allotment status through these steps:
Step 1: Visit “Registrar’s website” of the MUFG Intime India Private Limited (Link Intime) and select “Travel Food Services Limited-IPO”. Then check your PAN number, application number, or DP/Client ID.
Step 2. Head to BSE Website and then select BSE IPO Allotment Page.
Step 3. Select "Equity" under “Issue Type”, then "Travel Food Services Limited" under “Issue Name”. Enter your “Application Number” or “PAN” and click on “Submit”.
Step 4. Visit the NSE IPO Allotment Portal and log in with registered credentials. Then, enter your PAN and application details.
Post Allotment Actions
The refunds for the unallotted shares will be processed promptly on July 11, 2025, and allotted shares will appear in your demat account on the very same day. These shares can start being bought and sold on the stock market (BSE/NSE) from July 14, 2025, which is the first chance for a potential profit or a loss.
About Travel Food Services Limited
India's largest network of QSRs and airport lounges is handled by Travel Food Services Limited (TFS). It was incorporated in 2007 and as of June 30, 2024, the company manages 397 travel QSRs (including 117 partners and in-house brands) across) 14 Indian airports and 3 airports in Malaysia. It also runs 37 lounges, including 28 private ones, covering 10 domestic airports.
The company's consistent financial growth with a 27.4 per cent rise in profit to Rs 379.7 crore is a positive sign for investors, indicating a strong healthy business. However the fact that the company is going entirely for an Offer For Sale changes this picture as the money raised by selling its shares will not go to the company for its growth. Instead they will be directed to Kapur Family Trust, who are the existing shareholders of the company. This means that the company won't itself benefit from their IPO themselves.
(Disclaimer: With the above information, we want to clearly state that investing in IPOs and stock market involves clear risks and the information provided here is only for consumption purposes, and it should not be used as investment advice. Investors are strongly advised to read the Red Herring Prospectus (RHP) thoroughly, and assess their own risk taking abilities with a SEBI registered financial advisor before making any investment decisions. Grey Market Premium (GMP) is an unofficial indicator and does not guarantee sure shot listing of your company’s shares.)