Travel Food Services IPO opens on July 7: Check price band, lot size, allotment and listing date

Travel Food Services IPO will hit the primary market on July 7. The issue will conclude on July 9. The price band has been fixed at ₹1,045 to ₹1,100 per share.

The ₹2,000 crore initial share sale is exclusively an offer for sale (OFS) of 1.82 crore shares by the promoter Kapur Family Trust.

As it is completely an OFS, the company will not get any proceeds from the offer. "All the offer proceeds will be received by the promoter selling shareholder after deduction of offer-related expenses and relevant taxes thereon, to be borne by the promoter selling shareholder," according to the red herring prospectus (RHP).

Travel Food Services IPO lot size

The lot of Travel Food Services IPO consists of 13 shares and in multiples thereof, needing at least an investment of ₹14,300 at the upper end of the price band.

Travel Food Services IPO key dates: Allotment and listing details

The allotment for Travel Food Services is likely to be finalised on July 10. Refunds for unsuccessful investors will be initiated on July 11. Shares will be credited to the Demat account of allottees on the same day.

The company's shares will be listed on the NSE and the BSE on July 14.

Kotak Mahindra Capital Company, ICICI Securities, HSBC Securities and Capital Markets, and Batlivala & Karani Securities India are the issue's book-running lead managers, while Link Intime India is the registrar.

Travel Food Services is a leading player in the fast-growing Indian airport travel quick service restaurant (travel QSR) and lounge sectors. As of June 30, 2024, it operates 397 travel QSRs and 31 lounges across India and Malaysia.

It has a presence in 13 airports in India and three airports in Malaysia.