Travel Food Services Limited is into fast-growing Indian airport travel quick service restaurant and lounge sectors
MUMBAI, July 5 (The CONNECT)- Travel Food Services Limited has garnered Rs. 598.8 crores from anchor investors ahead of its initial public offering that opens for public subscription on Monday, July 7, 2025. The company informed the bourses that it allocated 54,43,635 equity shares at Rs. 1,100 per share on Friday, July 4, 2025, to anchor investors.
Travel Food Services Limited is into fast-growing Indian airport travel quick service restaurant and lounge sectors. It operates a travel quick service restaurants and a lounges across airports in India, Malaysia and Hong Kong.
Some of the marquee Institutions that participated in the anchor include ICICI Prudential Mutual Fund, Abu Dhabi Investment Authority, Axis Mutual Fund, Fidelity Investment Trust Emerging Asia Fund, Government Pension Fund Global, Kotak Mutual Fund, Baroda BNP Paribas Mutual Fund, WhiteOak Capital Flexi Fund, Bajaj Allianz Life Insurance Company, HDFC Life Insurance Company. Tata AIA Life Insurance, Turnaround Opportunities Fund, IKIGAI Emerging Equity Fund, JM Financial Mutual Fund, Amundi Funds New Silk Road, Samsung India Securities Master Investment Trust Equity, Bharti AXA Life Insurance, Helios Flexi Cap Fund, SBI General Life Insurance Company, Necta Bloom VCC –Regal Fund, Integrated Core Strategies (Asia) Pte. Ltd, Societe Generale – ODI.
Out of the total allocation of 54,43,635 equity shares to the anchor investors, 23,67,527 equity shares were allocated to 7 domestic mutual funds through a total of 15 schemes, i.e. 43.49% of the Total Anchor Book Size.
Kotak Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited and Batlivala & Karani Securities India Private Limited, are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the issue.
IPO Details
The IPO is entirely an offer for sale up to equity shares aggregating to Rs 2,000 crore by Kapur Family Trust.
The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Monday, July 7, 2025, and closes on Wednesday, July 9, 2025. The price band for the Offer has been determined at Rs 1,045 – Rs 1,100 per equity share.
The IPO will fetch Rs 2,000 crore at the upper end of the price band.
Investors can bid for a minimum of 13 equity shares and in multiples of 13 equity shares thereafter.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional investors, and not less than 35% of the offer shall be available for allocation to retail individual bidders.
