Travel Food Services Limited is all set to launch its Initial Public Offering (IPO) on Monday, July 7, 2025. The price band has been fixed between INR 1,045 and INR 1,100 per equity share of face value INR 1 each. The IPO will remain open for subscription until Wednesday, July 9, 2025. Investors can bid for a minimum of 13 equity shares and in multiples thereafter.
This maiden IPO is entirely an offer for sale amounting to INR 2,000 crore by the Kapur Family Trust. A special discount of INR 104 per equity share will be offered to eligible employees applying under the reserved category.
Travel Food Services (TFS) is a prominent player in the Indian airport travel food and lounge segment, operating Quick Service Restaurants (QSR) and lounges across airports in India, Malaysia, and Hong Kong. The company also has QSRs on nine highways across India. As of March 31, 2025, TFS boasts a strong F&B brand portfolio comprising 127 partner and in-house brands.
According to the CRISIL Report, TFS held a revenue-based market share of approximately 26% in the Indian airport QSR sector and 45% in the airport lounge sector for the fiscal year 2025. It has a presence in 14 Indian airports, including major hubs like Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, and Chennai, as well as three airports in Malaysia and one in Hong Kong.
The company’s financial performance has been robust, with revenue from operations increasing by 20.87% to INR 1,687.74 crore in FY2025, up from INR 1,396.32 crore in FY2024. Net profit also rose by 27.35%, reaching INR 379.66 crore compared to INR 298.12 crore in the previous fiscal.
The IPO is being offered through the book-building process. Up to 50% of the offer is reserved for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs), and 35% for Retail Individual Investors (RIIs).
The lead book-running managers for the IPO are Kotak Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, and Batlivala & Karani Securities India Private Limited. MUFG Intime India Private Limited is the registrar of the issue.
Travel Food Services’ IPO is expected to attract significant investor interest, given the company’s strong market presence, expanding international footprint, and consistent financial growth.
