Travel Food Services Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹1045 - ₹1100
- Lot size
- 13 shares
- Issue amount
- ₹2,000 cr
- Total subscription
- 3.03×
- Opens
- 7 Jul 2025
- Closes
- 9 Jul 2025
- Allotment
- 10 Jul 2025
- Listing
- 14 Jul 2025
Offer at a glance
Issue overview
- Issue size
- 1,81,81,818 shares
- Face value
- ₹1 Per Share
- Minimum investment
- ₹13,585
- Fresh issue
- ₹2,000 cr
- Offer for sale
- ₹0 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,300
- Issue type
- Bookbuilding IPO
- Shares before issue
- 13,16,79,484
- Shares after issue
- 0
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 13 | ₹14,300 |
| sHNI | 14 | 182 | ₹2,00,200 |
| bHNI | 70 | 910 | ₹10,01,000 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 4,88,531 | 2,17,410 |
| HNIs(10L +) | 9,970 | 2,425 |
| HNIs (2-10L) | 4,985 | 5,696 |
| Employee | 0 | 3,742 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 399.2 | 3,233.81 |
| RETAIL | 698.6 | 509.03 |
| HNIs 2+ | 99.8 | 132.94 |
| HNIs 10+ | 199.6 | 366.1 |
| EMPLOYEES | 4.44 | 8.07 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-24 | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|---|
| EPS | 4.21 | 21.85 | 18.52 | 0.38 |
| ROE | 6.85 | 36.57 | 37.79 | 1.12 |
| ROCE | 11.06 | 49.97 | 53.87 | 13.52 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 0 | 0 | 0 |
| POST IPO(PE) | 0 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Travel Food Services Limited, established in 2007, is an Indian company that operates quick-service restaurants and lounges at airports. As of June 30, 2024, it runs 397 travel-focused restaurants across India and Malaysia, featuring a mix of 117 in-house and partner food and beverage brands. These restaurants offer a variety of cuisines and formats designed to meet the fast-paced needs of travelers. The company also manages airport lounges, which are primarily used by first and business-class passengers, airline loyalty members, and select credit and debit cardholders. These lounges provide a comfortable space for travelers within airport terminals. Travel Food Services operates in 14 airports in India and 3 in Malaysia, including major airports like Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, and Chennai. By June 2024, it had maintained a presence at the Delhi airport for 14 years, Mumbai for 15 years, Bengaluru for 5 years, and Chennai for 11 years.
Strengths
- Expertise in Airport Operations: 15+ years in travel industry since 2009, with strong execution skills in high-security airport environments
- Strong Airport Partnerships: Long-term presence at major airports – 14 yrs at Delhi, 15 yrs at Mumbai, 5 yrs at Bengaluru, 11 yrs at Chennai
- Exclusive Rights: Sole F&B and Lounge concessionaire at Chennai and Kolkata AAI airports since 2014
- Diverse Brand Portfolio: 117 F&B brands including 78 licensed (KFC, Subway) and 39 in-house (Caféccino, Curry Kitchen)
- Customizable Offerings: Brand mix allows tailoring of menus to local preferences and airport-specific needs
Risk factors
- Dependence on Lounge Partners: business success relies on strong ties with airlines, card issuers, and loyalty programs; annual renewals pose retention risks
- Regulatory & Compliance Risks: subject to strict airport and highway rules on food safety, security, and environment; non-compliance may lead to penalties or shutdowns
- High Competition: faces strong rivalry in Travel QSR and Lounge sectors; competitors with better pricing or airport ties can affect growth and market share
Promoters
SSP Group plc
SSP Group Holdings Limited
SSP Financing Limited
SSP Asia Pacific Holdings Limited
Kapur Family Trust
Varun Kapur
Karan Kapur
Registrar & documents
Lead manager
Kotak Mahindra Capital Company Limited, Hsbc Securities & Capital Markets Private Limited, ICICI Securities Limited, Batlivala & Karani Securities India Private Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Block-A South Wing 1st Floor, Shiv Sagar Estate, Dr. Annie Besant Road Worli, Mumbai, Maharashtra, 400018
+91 22 4322 4322
[email protected]Company website ↗Understanding TRAVELFOOD IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.