Travel Food Services IPO opens for subscription: Check subscription status, price band, lot size, key dates, and more

Travel Food Services IPO: Travel quick-service restaurant and lounge operator Travel Food Services Ltd opened for subscription on Monday, July 7. The issue, which will end on July 9, has set a price band of ₹1,045 and ₹1,100 per share. A lot consists of 13 equity shares.

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.

Travel Food Services IPO: Subscription status

The offer has been subscribed 9% until 3:15 pm on Monday, with bids for 12,26,550 shares against 1,34,12,842 shares on offer.

• Non Institutional Investors (NIIs): 5%
• Retail Individual Investors (RIIs): 12%

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 54,43,635 shares to 33 funds at ₹1,100 a unit.

Travel Food Services key dates: Allotment and listing details

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.

SSP, an FTSE 250 firm listed on the London Stock Exchange, is a key player in the travel food & beverage (F&B) sector in terms of revenue in 2024, according to a Crisil report.

The Kapur Family Trust functions under the flagship brand K Hospitality, which manages and invests in various hospitality and food service businesses, including Travel Food Services.

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.

Travel Food Services IPO GMP