Travel Food Services IPO: Issue subscribed 25% on day 2; check category-wise status

According to NSE data till 5 PM, the issue saw a total subscription of 0.25 times with bids for 33,02,858 shares against 13,412,842 shares on offer.

That the portion reserved for qualified institutional buyers, or QIBs, has been subscribed 0.18 times, while the non-institutional investors (NIIS) category saw subscription of 0.24 times so far. The retail individual investors (RIIs) category has been booked 0.28 times.

The initial public offering is looking to raise ₹2,000 crore via an offer for sale (OFS) of 1.82 crore shares by promoter Kapur Family Trust. There is no fresh issue component.

Before the IPO, the company collected nearly ₹598.8 crore from anchor investors, including ICICI Prudential Mutual Fund (MF), Baroda BNP Paribas MF, Kotak MF, Axis MF, Abu Dhabi Investment Authority, Government Pension Fund Global, and Fidelity.

As per the circular on the BSE, the company allocated 5,443,635 shares to 33 funds at ₹1,100 a unit.

Travel Food Services IPO allotment is likely to be finalised on July 10, while listing on the stock exchanges will occur on July 14.

Travel Food Services started its first travel QSR outlet in 2009. It is promoted by SSP Group plc, or SSP, and its affiliates SSP Group Holdings Ltd, SSP Asia Pacific Holdings Ltd, and SSP Financing Ltd, along with the Kapur Family Trust, Karan Kapur, and Varun Kapur.

Mumbai-based Travel Food Services' international brands include popular chains like KFC, Wagamama, Coffee Bean & Tea Leaf, Pizza Hut, Jamie Oliver's Pizzeria, Subway, Krispy Kreme, and Brioche Doree.

The regional Indian brands include Third Wave Coffee, Sangeetha, Hatti Kaapi, Bikanervala, Wow Momo, JOSHH, Adyar Ananda Bhavan, The Irish House, and Bombay Brasserie.

Batlivala & Karani Securities India, HSBC Securities and Capital Markets (India) Pvt Ltd, ICICI Securities, and Kotak Mahindra Capital Company are the IPO's book-running lead managers. MUFG Intime India is the registrar.

According to investorgain.com, Travel Food Services' unlisted shares were trading at ₹1,112, a grey market premium of ₹12 over the upper end of the price band.