Travel Food Services share price: Stock makes tepid debut, lists at 2.3% premium; here's how much investors gained

The stock listed at ₹1,125, a premium of 2.27% above the issue price of ₹1,100 per share.

It started trading on the BSE at ₹1,126.2, up 2.38%.

Travel Food Services share price: Here's how much investors gained

Since the issue is entirely an OFS, the firm will not receive any funds from the public offer, and the proceeds will go to the selling shareholder.

The initial share sale was subscribed to 2.88 times, with bids for 3,86,35,766 shares as against 1,34,12,842 shares on offer, as per the NSE data.

The qualified institutional buyers (QIBs) category bid the most, attracting 7.7 times the subscription as they bid for 2,93,98,278 shares against 38,20,095 shares on offer.

The portion for non-institutional investors (NIIs) was booked 1.58 times. They submitted applications for 45,36,662 shares compared to 28,65,072 shares reserved.

The retail investors part got just 69% subscription, as they applied to 46,27,506 shares against 66,85,168 shares offered.

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

The portfolio of Travel Food Services, which is headquartered in Mumbai, features an array of food and beverage (F&B) concepts, including cafes, fast food, bakeries, food courts and bars, mainly located in airports across India and Malaysia and some highway locations. It is promoted by SSP Group plc (SSP) and its affiliate companies, such as SSP Group Holdings, SSP Financing, and SSP Asia Pacific Holdings, along with the Kapur Family Trust, Varun Kapur, and Karan Kapur.