Travel Food Services IPO: Check GMP, Price Band & Allotment Status - Details

Travel Food Services Ltd (TFS), one of India’s leading players in the airport food and beverage space, is set to wrap up the allotment process for its Rs 2,000-crore initial public offering (IPO) today. The issue, which opened to investors last week, has drawn healthy interest from institutional participants — though retail enthusiasm remained muted.

Here’s a detailed look at the key details that investors need to know, including allotment timelines, grey market sentiment, and what lies ahead.

Travel Food Services IPO: Price band

TFS offered its shares in a price band of Rs 1,045 to Rs 1,100 apiece, with a minimum application size of 13 shares — translating to a retail investment of Rs 14,300 at the upper end.

Travel Food Services IPO: Grey Market Premium

As of July 10, 2025, 10:58 AM, the grey market premium (GMP) for Travel Food Services IPO stood at Rs 5, indicating an estimated listing price of Rs 1,105 — a marginal gain of 0.45% over the upper end of the price band set at Rs 1,100.

Travel Food Services IPO: Investor response

By the time the bidding ended, the IPO had received a mixed response. Institutional investors showed strong interest, with the QIB portion subscribed more than 7.7 times. The demand from Non-Institutional Investors (NII) was moderate at around 1.6 times. However, retail investors showed limited enthusiasm, subscribing to only about 70% of the shares reserved for them.

Also Read: Travel Food Services IPO: GMP, Subscription Status & Price Band- All You Need to Know | Republic World

Travel Food Services IPO: Allotment & listing dates

The basis of allotment is being finalized today, July 10, 2025. For those who did not receive allotment, refunds are expected to begin by July 11. Successful applicants will see shares credited to their demat accounts on the same day, July 11. The company is scheduled to list on both the BSE and NSE on Monday, July 14, 2025.

Applicants can check their allotment status on the website of the registrar, MUFG Intime (formerly Link Intime), or through the BSE/NSE portals by using their PAN or application number.

Travel Foods IPO: Financial performance

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

About the company

Founded in 2007, Travel Food Services operates over 390 quick-service restaurants, cafes, and lounges at major Indian airports and select international locations. The company is backed by SSP Group, which owns the 'Upper Crust' brand globally, and India’s K Hospitality Corp. It has a presence in 14 Indian airports and 3 international locations, and has partnerships with over 100 domestic and international food brands.

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