Travel Food Services IPO Today: GMP Buzz, Hot Demand—Apply Now or Wait

Travel Food Services Ltd (TFS), one of India’s largest airport-centric food and beverage operators, opened its Rs 2,000-crore initial public offering (IPO) to investors today. The Mumbai-based company had revealed that the offering is entirely an offer-for-sale (OFS), with existing shareholders including SSP Asia Pacific Holdings and the Kapur Family Trust offloading their stakes.

Travel Food Services IPO: Price band and share allotment

The company has set the price band between Rs 1,045 and Rs 1,100 per share, as per a market tracking website. Retail investors can bid for a minimum of one lot comprising 13 shares, which translates to an entry investment of approximately Rs 14,300 at the upper price band.

Ahead of the IPO, the company raised Rs 599 crore from anchor investors. Some of the key participants in the anchor round included ICICI Prudential Mutual Fund, Axis Mutual Fund, Kotak Mutual Fund, SBI General Insurance, Tata AIA, Norway’s Government Pension Fund Global (GPFG), Fidelity, and WhiteOak Capital.

Also Read: Noida International Airport partners with TFS for lounge services | Republic World

Travel Food Services IPO: Grey Market Premium 

Grey market activity ahead of the listing has been steady. As of July 7, at 11:35 AM, the last recorded grey market premium (GMP) stood at Rs 20. Based on the upper end of the price band, this suggests an estimated listing price of around Rs 1,120, indicating a modest expected gain of 1.82% per share, as per a market tracking website. 

Travel Food Services IPO: Subscription status

By 10:20 AM, the IPO had received bids for about 2% of the total shares on offer. Retail investors were more active, accounting for 3% of the demand, while non-institutional investors subscribed around 1%. Qualified Institutional investors (QIBs) are expected to bid later in the process.

Travel Food Services IPO: Key dates to look out for

The basis of allotment is expected to be finalized by July 10. Refunds for unallocated bids should begin by July 11, and successful applicants are likely to receive their shares in demat accounts the same day. TFS is scheduled to list on both the BSE and NSE on July 14, as per a market tracking website.

Travel Food Services IPO: Financial Performance 

For FY25, the company registered Rs 1,688 crore in revenue, with earnings before interest, tax, depreciation and amortization (EBITDA) of ₹676 crore. The company's profit after tax stood at Rs 380 crore.

About the company

Travel Food Services Limited (TFS), a prominent leader in the F&B industry, operates over 380 F&B outlets and 27 Lounges in 19 cities, at major travel hubs across India and Globally. Dedicated to transforming travel experiences, TFS enhances airport spaces with diverse cuisines and dining concepts.

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