Travel Food Services IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Jul 07 to Jul 09 2025
Price Band
₹1100
Current GMP
₹1125(2.27%)
Subscription
3.03 times
IPO Details
| IPO Date | July 7, 2025 to July 9, 2025 |
| Listing Date | July 14, 2025 |
| Face Value | ₹1 per share |
| Issue Price | ₹1100 per share |
| Lot Size | 13 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 1,81,81,818 shares (aggregating up to ₹2,000.00 Cr) |
| Employee Discount | ₹104.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 13,16,79,484 shares |
| Share Holding Post Issue | 13,16,79,484 shares |
IPO Date
July 7, 2025 to July 9, 2025
Listing Date
July 14, 2025
Face Value
₹1 per share
Issue Price
₹1100 per share
Lot Size
13 Shares
Sale Type
Offer For Sale
Total Issue Size
1,81,81,818 shares (aggregating up to ₹2,000.00 Cr)
Employee Discount
₹104.00
Issue Type
Bookbuilding IPO
Listing At
BSE, NSE
Share Holding Pre Issue
13,16,79,484 shares
Share Holding Post Issue
13,16,79,484 shares
IPO Subscription Details
| Anchor Investors | 1 |
| Qualified Institutions | 8.10 |
| Non-Institutional Buyers | 1.67 |
| bNII (bids above ₹10L) | 1.83 |
| sNII (bids below ₹10L) | 1.33 |
| Retail Investors | 0.73 |
| Employees | 1.81 |
| Total ** | 3.03 |
Anchor Investors
1
Qualified Institutions
8.10
Non-Institutional Buyers
1.67
bNII (bids above ₹10L)
1.83
sNII (bids below ₹10L)
1.33
Retail Investors
0.73
Employees
1.81
Total **
3.03
Day Wise Sub
| Day | QIB | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | EMP | Total |
|---|---|---|---|---|---|---|---|
| Day 1 Jul 7, 2025 | 0.07 | 0.07 | 0.04 | 0.12 | 0.15 | 0.39 | 0.11 |
| Day 2 Jul 8, 2025 | 0.19 | 0.25 | 0.24 | 0.26 | 0.30 | 0.77 | 0.26 |
| Day 3 Jul 9, 2025 | 8.10 | 1.67 | 1.83 | 1.33 | 0.73 | 1.81 | 3.03 |
DayDay 1
Jul 7, 2025
QIB0.07
NII0.07
NII (> ₹10L)0.04
NII (< ₹10L)0.12
Retail0.15
EMP0.39
Total0.11
DayDay 2
Jul 8, 2025
QIB0.19
NII0.25
NII (> ₹10L)0.24
NII (< ₹10L)0.26
Retail0.30
EMP0.77
Total0.26
DayDay 3
Jul 9, 2025
QIB8.10
NII1.67
NII (> ₹10L)1.83
NII (< ₹10L)1.33
Retail0.73
EMP1.81
Total3.03
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 14-07-2025 | 1100.00 | 25(2.27%) | 1125 |
| 13-07-2025 | 1100.00 | 25(2.27%) | 1125 |
| 12-07-2025 | 1100.00 | 35(3.18%) | 1135 |
| 11-07-2025 | 1100.00 | 31(2.82%) | 1131 |
| 10-07-2025 | 1100.00 | 0(0.00%) | 1100 |
| 09-07-2025 | 1100.00 | 0(0.00%) | 1100 |
| 08-07-2025 | 1100.00 | 8(0.73%) | 1108 |
| 07-07-2025 | 1100.00 | 16(1.45%) | 1116 |
| 06-07-2025 | 1100.00 | 30(2.73%) | 1130 |
| 05-07-2025 | 1100.00 | 50(4.55%) | 1150 |
| 04-07-2025 | 1100.00 | 80(7.27%) | 1180 |
| 03-07-2025 | 1100.00 | 92(8.36%) | 1192 |
| 02-07-2025 | 1100.00 | 92(8.36%) | 1192 |
| 01-07-2025 | 0(0.00%) | (0.00%) | |
| 30-06-2025 | 0(0.00%) | (0.00%) | |
| 29-06-2025 | 0(0.00%) | (0.00%) | |
| 28-06-2025 | 0(0.00%) | (0.00%) | |
| 27-06-2025 | 0(%) | (%) |
Date14-07-2025
Price1100.00
GMP25(2.27%)
Estimate List Price1125
Date13-07-2025
Price1100.00
GMP25(2.27%)
Estimate List Price1125
Date12-07-2025
Price1100.00
GMP35(3.18%)
Estimate List Price1135
Date11-07-2025
Price1100.00
GMP31(2.82%)
Estimate List Price1131
Date10-07-2025
Price1100.00
GMP0(0.00%)
Estimate List Price1100
Date09-07-2025
Price1100.00
GMP0(0.00%)
Estimate List Price1100
Date08-07-2025
Price1100.00
GMP8(0.73%)
Estimate List Price1108
Date07-07-2025
Price1100.00
GMP16(1.45%)
Estimate List Price1116
Date06-07-2025
Price1100.00
GMP30(2.73%)
Estimate List Price1130
Date05-07-2025
Price1100.00
GMP50(4.55%)
Estimate List Price1150
Date04-07-2025
Price1100.00
GMP80(7.27%)
Estimate List Price1180
Date03-07-2025
Price1100.00
GMP92(8.36%)
Estimate List Price1192
Date02-07-2025
Price1100.00
GMP92(8.36%)
Estimate List Price1192
Date01-07-2025
Price
GMP0(0.00%)
Estimate List Price(0.00%)
Date30-06-2025
Price
GMP0(0.00%)
Estimate List Price(0.00%)
Date29-06-2025
Price
GMP0(0.00%)
Estimate List Price(0.00%)
Date28-06-2025
Price
GMP0(0.00%)
Estimate List Price(0.00%)
Date27-06-2025
Price
GMP0(%)
Estimate List Price(%)
IPO Important Dates
| IPO Open Date | Mon, Jul 7, 2025 |
| IPO Close Date | Wed, Jul 9, 2025 |
| Tentative Allotment | Thu, Jul 10, 2025 |
| Initiation of Refunds | Fri, Jul 11, 2025 |
| Credit of Shares to Demat | Fri, Jul 11, 2025 |
| Tentative Listing Date | Mon, Jul 14, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 9, 2025 |
IPO Open Date
Mon, Jul 7, 2025
IPO Close Date
Wed, Jul 9, 2025
Tentative Allotment
Thu, Jul 10, 2025
Initiation of Refunds
Fri, Jul 11, 2025
Credit of Shares to Demat
Fri, Jul 11, 2025
Tentative Listing Date
Mon, Jul 14, 2025
Cut-off time for UPI mandate confirmation
5 PM on July 9, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 13 | ₹14,300 |
| Retail (Max) | 13 | 169 | ₹1,85,900 |
| S-HNI (Min) | 14 | 182 | ₹2,00,200 |
| S-HNI (Max) | 69 | 897 | ₹9,86,700 |
ApplicationRetail (Min)
Lots1
Shares13
Amount₹14,300
ApplicationRetail (Max)
Lots13
Shares169
Amount₹1,85,900
ApplicationS-HNI (Min)
Lots14
Shares182
Amount₹2,00,200
ApplicationS-HNI (Max)
Lots69
Shares897
Amount₹9,86,700
Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 1,902.73 | 1,696.44 | 1,332.32 |
| Revenue | 1,762.71 | 1,462.40 | 1,103.58 |
| Profit After Tax | 379.66 | 298.12 | 251.30 |
| EBITDA | 676.35 | 549.99 | 458.05 |
| Net Worth | 1,048.45 | 869.05 | 651.12 |
| Reserves and Surplus | 1,040.24 | 869.74 | 651.60 |
| Total Borrowing | 63.78 | 31.05 |
Period EndedPeriod Ended
31 Mar 202531 Mar 2025
31 Mar 202431 Mar 2024
31 Mar 202331 Mar 2023
Period EndedAssets
31 Mar 20251,902.73
31 Mar 20241,696.44
31 Mar 20231,332.32
Period EndedRevenue
31 Mar 20251,762.71
31 Mar 20241,462.40
31 Mar 20231,103.58
Period EndedProfit After Tax
31 Mar 2025379.66
31 Mar 2024298.12
31 Mar 2023251.30
Period EndedEBITDA
31 Mar 2025676.35
31 Mar 2024549.99
31 Mar 2023458.05
Period EndedNet Worth
31 Mar 20251,048.45
31 Mar 2024869.05
31 Mar 2023651.12
Period EndedReserves and Surplus
31 Mar 20251,040.24
31 Mar 2024869.74
31 Mar 2023651.60
Period EndedTotal Borrowing
31 Mar 2025
31 Mar 202463.78
31 Mar 202331.05
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|---|
| Travel Food Services Limited | 27.58 | 27.58 | 79.62 | 34.64 | ||
| Jubilant Foodworks Ltd | 3.41 | 3.41 | 31.87 | 205.81 | 10.02 | 22.61 |
| Devyani International Limited | 0.08 | 0.08 | 9.07 | 2,097.13 | 0.84 | 18.56 |
| Sapphire Foods India Limited | 0.60 | 0.60 | 43.53 | 548.00 | 1.38 | 7.63 |
| Westlife Foodworld Limited | 0.78 | 0.78 | 38.70 | 955.26 | 2.01 | 19.61 |
| Restaurant Brands Asia Limited | -4.33 | -4.33 | 15.61 | 23.80 | 5.47 |
Company NameTravel Food Services Limited
EPS (Basic)27.58
EPS (Diluted)27.58
NAV (per share) (Rs)79.62
P/E (x)
RoNW (%)34.64
P/BV Ratio
Company NameJubilant Foodworks Ltd
EPS (Basic)3.41
EPS (Diluted)3.41
NAV (per share) (Rs)31.87
P/E (x)205.81
RoNW (%)10.02
P/BV Ratio22.61
Company NameDevyani International Limited
EPS (Basic)0.08
EPS (Diluted)0.08
NAV (per share) (Rs)9.07
P/E (x)2,097.13
RoNW (%)0.84
P/BV Ratio18.56
Company NameSapphire Foods India Limited
EPS (Basic)0.60
EPS (Diluted)0.60
NAV (per share) (Rs)43.53
P/E (x)548.00
RoNW (%)1.38
P/BV Ratio7.63
Company NameWestlife Foodworld Limited
EPS (Basic)0.78
EPS (Diluted)0.78
NAV (per share) (Rs)38.70
P/E (x)955.26
RoNW (%)2.01
P/BV Ratio19.61
Company NameRestaurant Brands Asia Limited
EPS (Basic)-4.33
EPS (Diluted)-4.33
NAV (per share) (Rs)15.61
P/E (x)
RoNW (%)23.80
P/BV Ratio5.47
IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 90,72,725 (49.89%) | NA |
| − Anchor Investor Shares Offered | 54,43,635 (29.93%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 36,29,090 (19.96%) | NA |
| NII (HNI) Shares Offered | 27,21,818 (14.97%) | NA |
| − bNII > ₹10L | 18,14,545 (9.98%) | 9,970 |
| − sNII < ₹10L | 9,07,273 (4.99%) | 4,985 |
| Retail Shares Offered | 63,50,909 (34.92%) | 4,88,531 |
| Employee Shares Offered | 40,382 (0.22%) | NA |
| Total Shares Offered | 1,81,85,834 (100.00%) |
Investor CategoryQIB Shares Offered
Shares Offered90,72,725 (49.89%)
Maximum AllotteesNA
Investor Category− Anchor Investor Shares Offered
Shares Offered54,43,635 (29.93%)
Maximum AllotteesNA
Investor Category− QIB (Ex. Anchor) Shares Offered
Shares Offered36,29,090 (19.96%)
Maximum AllotteesNA
Investor CategoryNII (HNI) Shares Offered
Shares Offered27,21,818 (14.97%)
Maximum AllotteesNA
Investor Category− bNII > ₹10L
Shares Offered18,14,545 (9.98%)
Maximum Allottees9,970
Investor Category− sNII < ₹10L
Shares Offered9,07,273 (4.99%)
Maximum Allottees4,985
Investor CategoryRetail Shares Offered
Shares Offered63,50,909 (34.92%)
Maximum Allottees4,88,531
Investor CategoryEmployee Shares Offered
Shares Offered40,382 (0.22%)
Maximum AllotteesNA
Investor CategoryTotal Shares Offered
Shares Offered1,81,85,834 (100.00%)
Maximum Allottees
Information about company
Incorporated in 2007, Travel Food Services Limited is an Indian airport travel quick service restaurant (“Travel QSR”) and lounge (“Lounge”). The company's F&B brand portfolio, comprising 117 partner and in-house brands, is in the operation of 397 Travel QSRs across India and Malaysia, as of June 30, 2024.
Travel QSR business comprises a range of curated food and beverage (“F&B”) concepts across cuisines, brands and formats, which have been adapted to cater to customers’ demands for speed and convenience within travel environments.
Travel Food Business Limited's lounge business comprises designated areas within airport terminals, accessible primarily by first and business-class passengers, members of airline loyalty programmes, select credit card and debit card holders and members of other loyalty programmes.
The company's Travel QSR and Lounge businesses are present in 14 airports in India and three airports in Malaysia, as of June 30, 2024. Such airports include the Delhi Airport, Mumbai Airport, Bengaluru Airport, Hyderabad Airport, Kolkata Airport, and Chennai Airport.
As of June 30, 2024, Travel Food Services were present in the Delhi airport for 14 years, the Mumbai airport for 15 years, the Bengaluru airport for 5 years and the Chennai airport for 11 years.
Competitve Strengths:
Leading player in the Travel QSR and Lounge sectors in Indian airports.
The diversified portfolio of partner F&B brands franchised from high-quality brand partners and in-house F&B brands.
Deep understanding of traveller preferences with a focus on delivering a quality customer experience.
Experienced management team, supported by our synergistic partnerships with SSP and K Hospitality.
Objectives of IPO
The company will not receive any proceeds from the Offer and all the Offer Proceeds will be received by the Promoter Selling Shareholder.
Disclaimer
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We are not a SEBI Registered analyst. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on Information published on this application.
No financial information whatsoever published anywhere, within this application, should be considered as advice to buy or sell securities or invest in IPOs, or as a guide to doing so in any way whatsoever
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