Travel Food Services IPO opens on July 7; check price band, lot size, issue details & more

Mumbai-based Travel Food Services is gearing up for its initial public offering (IPO) worth Rs 2,000 crore, slated to open on July 7 and close on July 9. The IPO will be an offer-for-sale (OFS) by the Kapur Family Trust, with no component of fresh issue, meaning the company will not receive any proceeds from this IPO. Investors can bid for a minimum of 13 equity shares, with the price band set between Rs 1,045 and Rs 1,100 per share.

Retail investors will require a minimum investment of Rs 14,300, with a maximum cap of Rs 1,85,900, to participate in the IPO. To benefit its eligible employees, the company offers a discount of Rs 104 per share on the final price. The issue allocates 50% of the offer to qualified institutional buyers (QIBs), 15% to non-institutional investors (NIIs), and 35% to retail investors.

The public offer will see its anchor book launch on July 4, preceding the public opening. The allotment of shares will be finalised by July 10, and trading on the bourses will commence on July 14. The IPO is managed by lead managers including Kotak Mahindra Capital Company, HSBC Securities and Capital Markets (India), ICICI Securities, and Batlivala & Karani Securities India.

Promoted by the London-based SSP Group plc and its affiliates, Travel Food Services operates extensive networks of quick service restaurants (QSRs) and lounges in airports. The company claims to have the largest travel QSR presence within India, with 384 out of 413 outlets located in airports across the country. Additionally, the company's operations extend to Malaysia and Hong Kong.

Travel Food Services reported robust financials, with a 27.4% increase in profit in fiscal 2025, reaching Rs 379.7 crore. Revenue also surged by 20.9% to Rs 1,687.7 crore compared to the previous fiscal year. This financial performance underscores the company's thriving operations amid the growing demand for travel-related services.

The Securities and Exchange Board of India (SEBI) granted approval for the IPO on April 22, following the company's filing of preliminary papers in December of the previous year. This regulatory nod paved the way for the upcoming public issue, which is anticipated to attract significant investor interest.

Important dates for the IPO include the opening on July 7, closing on July 9, basis of allotment on July 10, initiation of refunds around the same date, credit of shares to the Demat account, and eventual listing on July 14. Investors are advised to confirm their UPI mandates within the stipulated cut-off time to ensure participation.