The IPO is entirely an offer for sale (OFS) by promoter Kapur Family Trust, with no fresh equity issuance. All proceeds from the Rs 2,000 crore issue will go to the selling shareholder.
Anchor Investors and GMP
Ahead of the public issue, the company raised Rs 599 crore from anchor investors by allocating 54,43,635 equity shares at Rs 1,100 apiece on Friday, July 4.
Notable anchor investors include ICICI Prudential Mutual Fund, Abu Dhabi Investment Authority, Axis Mutual Fund, Kotak Mutual Fund, HDFC Life Insurance, Fidelity, SBI General Insurance, and Tata AIA Life Insurance, among others.
The grey market premium (GMP) for the IPO stands at Rs 49–50, suggesting a potential listing gain of around 4% over the upper price band.Also Read: Street favourite! 10 BSE large-cap stocks analysts expect to rally up to 70%About Travel Food Services IPO
The company has set the price band for the IPO at Rs 1,045 to Rs 1,100 per share. The issue is a 100% offer for sale (OFS), with no fresh equity being issued.
Investors can place bids for a minimum of 13 equity shares and in multiples of 13 thereafter.
As per the offer structure, 50% of the issue is reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for Non-Institutional Investors (NIIs).
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About the company
Promoted by UK-based SSP Group plc and the Kapur Family Trust, Travel Food Services operates India’s largest airport food and lounge network, with 413 outlets, of which 384 are located at airports across 14 Indian cities. It also runs 37 airport lounges, including 28 private ones, making it the largest lounge operator in India.
The company also operates internationally at three airports—two in Malaysia and one in Hong Kong.
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Travel Food Services financials
In FY25, Travel Food Services reported a 27.4% year-on-year rise in profit to Rs 379.7 crore, while revenue grew 20.9% to Rs 1,687.7 crore.
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