
Travel Food Services IPO
Travel Food Services IPO
Overview
Travel Food Services IPO is a bookbuilding of ₹2,000.00 crores. The issue is entirely an offer for sale of 1.82 crore shares. Travel Food Services IPO opens for subscription on July 7, 2025 and closes on July 9, 2025. The allotment for the Travel Food Services IPO is expected to be finalized on Thursday, July 10, 2025. Travel Food Services IPO will be list on BSE, NSE with a tentative listing date fixed as Monday, July 14, 2025. Travel Food Services IPO price band is set at ₹1045 to ₹1100 per share. The lot size for an application is 13. The minimum amount of investment required by an retail is ₹13,585 (13 shares). The lot size investment for sNII is 14 lots (182 shares), amounting to ₹2,00,200, and for bNII, it is 70 lots (910 shares), amounting to ₹10,01,000. Kotak Mahindra Capital Company Limited is the book-running lead manager of the Travel Food Services IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar for the issue. Refer to Travel Food Services IPO RHP for detailed information.
Total Shares
1,81,81,818
Issue Size
₹2,000.00 Cr
Price Band
₹1045 – ₹1100
Lot Size
13 shares
Min. Investment
₹14,300
Max. Investment
₹1,85,900
Open Date
07 Jul, 2025
Close Date
09 Jul, 2025
Allotment
10 Jul, 2025
Listing
14 Jul, 2025
Max. Investment
₹1,85,900
Announced
07 Jul, 2025
Opening Date
07 Jul, 2025
Closing Date
09 Jul, 2025
Basis of Allotment
10 Jul, 2025
Initiation of Refunds
11 Jul, 2025
Credit of Shares
11 Jul, 2025
Listing Date
14 Jul, 2025
Live GMP
Est. Listing: ₹1116
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About Travel Food Services IPO
Incorporated in 2007, Travel Food Services Limited is an Indian airport travel quick service restaurant (“Travel QSR”) and lounge (“Lounge”). The company's F&B brand portfolio, comprising 117 partner and in-house brands, is in the operation of 397 Travel QSRs across India and Malaysia, as of June 30, 2024.
Travel QSR business comprises a range of curated food and beverage (“F&B”) concepts across cuisines, brands and formats, which have been adapted to cater to customers’ demands
Travel Food Services IPO Share Price
Issue Breakdown
Shareholding
Dilution: 0.0% increase in shares
Travel Food Services IPO Promoter
Travel Food Services IPO Financial Health
Travel Food Services Limited's revenue increased by 21% and profit after tax (PAT) rose by 27% between the financial year ending with March 31, 2025 and March 31, 2024.
Travel Food Services IPO Lot Size
Investors can bid for a minimum of 13 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 13 | ₹14,300 |
| Retail (Max) | 13 | 169 | ₹1,85,900 |
| S-HNI (Min) | 14 | 182 | ₹2,00,200 |
| S-HNI (Max) | 69 | 897 | ₹9,86,700 |
| B-HNI (Min) | 70 | 910 | ₹10,01,000 |
(All values in CR)
Travel Food Services IPO Valuations
| Metric | Value |
|---|---|
| ROE | 35.47 |
| ROCE | 51.40 |
| RoNW | 34.64 |
| PAT Margin | 21.54 |
| EBITDA Margin | 40.07 |
| Price to Book Value | 18.20 |
(All values in CR)
Travel Food Services IPO Strength & Risk
Travel Food Services IPO Strength:
Market Leadership in Airport F&B: Recognized as a leading player in India’s travel quick-service restaurant (QSR) and airport lounge segments, operating across major domestic and international terminals.
Diversified Brand Portfolio: Operates both franchised outlets of reputed global and Indian F&B brands, along with strong in-house brands—enabling risk diversification and customer reach.
Strong Consumer Insight: Leverages a deep understanding of the Indian air travel ecosystem and evolving traveler preferences to tailor food offerings and enhance experience.
Premium Experience Focus: Committed to delivering consistent, quality service and hygiene standards across its airport locations, contributing to high customer satisfaction.
Experienced Management & Global Synergies: Backed by a seasoned leadership team and strategic partnerships with international hospitality group SSP and India’s K Hospitality—ensuring operational excellence and scalability.
Travel Food Services IPO Risk:
High Dependence on Airport Traffic: Revenue is directly linked to footfall at airports, making it vulnerable to any disruption in air travel such as pandemics, geopolitical issues, or economic downturns.
Concentration Risk: Significant operations and revenue stem from a limited number of high-traffic airports, increasing risk exposure to location-specific issues or contract loss.
Regulatory and Concession Risks: Operations depend on contracts and licenses granted by airport authorities, which may not be renewed or could face increased regulatory scrutiny.
Margin Pressure Due to High Operating Costs: Airport retail incurs elevated rental and staffing costs, which could affect profitability, especially during periods of low passenger volume.
Competitive Environment: Faces intense competition from global food chains, emerging brands, and other QSR players operating in the same space, potentially impacting market share and pricing.
Travel Food Services IPO Subscriptions
Travel Food Services IPO subscribed 0.11 times. The public issue subscribed 0.15 times in the retail category, 0.07 times in QIB, and 0.07 times in the NII category by July 7, 2025 4:54:42 PM (Day 1).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 54,43,635 | 54,43,635 | 598.8 |
| Qualified Institutions | 0.07 | 36,29,090 | 2,56,724 | 28.24 |
| Non-Institutional Buyers | 0.07 | 27,21,818 | 1,80,973 | 19.907 |
| bNII (bids above ₹10L) | 0.04 | 18,14,545 | 74,360 | 8.18 |
| sNII (bids above ₹10L) | 0.12 | 9,07,273 | 1,06,613 | 11.727 |
| Retail | 0.15 | 63,50,907 | 9,40,758 | 103.483 |
| Employees | 0.38 | 40,382 | 15,483 | 1.703 |
| Total | 0.11 | 1,27,42,199 | 13,93,938 | 153.333 |
Travel Food Services IPO GMP
Travel Food Services IPO last GMP is ₹16, last updated Jul 7th 2025 04:33 PM. With the price band of 1100.00, Travel Food Services IPO's estimated listing price is ₹1116 (cap price + today's GMP).The expected percentage gain/loss per share is 1.45%. >> Travel Food Services IPO Retail Subject to Sauda: ₹200 >> Travel Food Services IPO Small HNI Subject to Sauda: ₹2800 The current GMP (₹16) is showing signals towards the lower side. The lowest GMP is ₹0.00, while the highest GMP is ₹92.00.
Last updated 07 Jul, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 07 Jul, 2025 | 1100 | ₹16▼ | 200/2800 | ₹1116 (1.45%) | 208 | 07 Jul, 2025 |
| 06 Jul, 2025 | 1100 | ₹30▼ | 300/4200 | ₹1130 (2.73%) | 390 | 06 Jul, 2025 |
| 05 Jul, 2025 | 1100 | ₹50▼ | 500/7000 | ₹1150 (4.55%) | 650 | 05 Jul, 2025 |
| 04 Jul, 2025 | 1100 | ₹80▼ | 800/11200 | ₹1180 (7.27%) | 1040 | 04 Jul, 2025 |
| 03 Jul, 2025 | 1100 | ₹92 | 900/12600 | ₹1192 (8.36%) | 1196 | 03 Jul, 2025 |
| 02 Jul, 2025 | 1100 | ₹92▲ | 900/12600 | ₹1192 (8.36%) | 1196 | 02 Jul, 2025 |
| 01 Jul, 2025 | 0 | ₹0 | - | ₹ (0.00%) | - | 01 Jul, 2025 |
| 30 Jun, 2025 | 0 | ₹0 | - | ₹ (0.00%) | - | 30 Jun, 2025 |
| 29 Jun, 2025 | 0 | ₹0 | - | ₹ (0.00%) | - | 29 Jun, 2025 |
| 28 Jun, 2025 | 0 | ₹0 | - | ₹ (0.00%) | - | 28 Jun, 2025 |
| 27 Jun, 2025 | 0 | ₹0 | - | ₹ (%) | - | 27 Jun, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Travel Food Services IPO
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Go to IPO Section
Find Travel Food Services IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
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Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.