Travel Food Services Allotment GMP Highlights: The allotment for Travel Food Services Rs 2,000 crore IPO was finalised on July 10, following a three-day bidding window. The public issue, which is entirely an offer for sale of 1.82 crore equity shares, was offered in a price band of Rs 1,045 to Rs 1,100 per share. No fresh issue component was involved, meaning all proceeds will go to existing shareholders offloading their stake.
Founded in 2007, Travel Food Services has built a presence in the airport food and beverage space. With a network of 397 quick service restaurants and lounges across India and Malaysia, the company manages a broad portfolio of 117 partner and in-house brands.
Travel Food Services IPO Allotment Status Live
Travel Food Services IPO Allotment Live: Expected to list on July 14
The Travel Food Services Mainline IPO carries a face value of ₹1 per share, with a price band ranging from ₹1,045 to ₹1,100. Retail investors can bid for a minimum of one lot comprising 13 shares, amounting to an investment of ₹14,300. The IPO is expected to list on the BSE and NSE on July 14, 2025.
Travel Food Services IPO Allotment Live: Details of the company
Travel Food Services (TFS) is a key player in the travel hospitality space, operating primarily across two core verticals: quick service restaurants (Travel QSR) and airport lounges. With a strong presence in high-footfall travel hubs, TFS has strategically positioned its QSR outlets in airports and along nine major highways across India. The company caters to diverse culinary preferences through an extensive portfolio of 127 in-house and partner brands, offering a wide range of food and beverage options to travelers in India and select international locations.
Travel Food Services IPO Allotment Live: GMP Update
Travel Food Services IPO's latest GMP stands at ₹23 as of July 11, 2025, 7:32 PM. With a price band set at ₹1,100, the estimated listing price is ₹1,123, indicating a potential gain of 2.09% per share.
Travel Food Services IPO Allotment Live: Know more about the company
Travel Food Services (TFS) operates at the heart of the travel ecosystem, focusing on two major verticals, quick service restaurants (Travel QSR) and airport lounges, across India and select international destinations. The company’s QSR outlets are tailored for high-traffic travel environments and are strategically located in airports and along nine Indian highways. TFS offers a wide variety of food and beverage options through a portfolio of 127 partner and in-house brands.
Travel Food Services IPO Allotment Live: Anchor investors pump in ₹598.8 Crore
Ahead of its public listing, Travel Food Services secured ₹598.8 crore from anchor investors. The anchor book featured major institutional players such as ICICI Prudential Mutual Fund, Abu Dhabi Investment Authority, Kotak Mutual Fund, Axis Mutual Fund, Fidelity, HDFC Life, and Tata AIA Life Insurance. Notably, over 43% of the total anchor allocation was subscribed by seven domestic mutual funds through 15 different schemes.
Travel Food Services IPO Allotment Live: Listing expected on July 14
The Travel Food Services Mainline IPO has a face value of ₹1 per share, with a price band set between ₹1,045 and ₹1,100. Retail investors can apply with a minimum of one lot, which includes 13 shares, requiring a total investment of ₹14,300. The IPO is tentatively scheduled to list on the BSE and NSE on July 14, 2025.
Travel Food Services IPO Allotment Live: GMP update of the company
As of July 11, 2025, 6:29 PM, the Grey Market Premium (GMP) for Travel Food Services IPO stands at ₹20. Based on the price band of ₹1,100, the estimated listing price is ₹1,120. This implies an expected gain of 1.82% per share.
Travel Food Services IPO Allotment Live: Updated GMP
As of July 11, 2025, 5:31 PM, the grey market premium (GMP) for the Travel Food Services IPO stands at ₹20. With a price band of ₹1,100, the estimated listing price is ₹1,120 per share, indicating a potential listing gain of approximately 1.82%.
Travel Food Services IPO Allotment Live: About the company
Travel Food Services (TFS) operates at the heart of the travel ecosystem, focusing on two major verticals, quick service restaurants (Travel QSR) and airport lounges, across India and select international destinations. The company’s QSR outlets are tailored for high-traffic travel environments and are strategically located in airports and along nine Indian highways. TFS offers a wide variety of food and beverage options through a portfolio of 127 partner and in-house brands.
Travel Food Services IPO Allotment Live: New GMP
As of July 11, 2025, 4:36 PM, the grey market premium (GMP) for Travel Food Services IPO stands at ₹15. With a price band of ₹1,100, the IPO's estimated listing price is ₹1,115 per share. This suggests a potential listing gain of approximately 1.36%.
Travel Food Services IPO Allotment Live: Updated GMP
The latest grey market premium (GMP) for the Travel Food Services IPO stands at ₹15, as of July 11, 2025, 3:34 PM. With a price band of ₹1,100, the estimated listing price is expected to be around ₹1,115 per share. This translates to a potential listing gain of approximately 1.36% per share.
Travel Food Services IPO Allotment Live: Company's performance
Travel Food Services posted a robust performance in FY2025, with revenue from operations climbing 20.87% year-on-year to ₹1,687.74 crore. The growth was fueled by strong like-for-like (LFL) sales and new contract wins. The company's net profit also registered a significant rise, jumping 27.35% to ₹379.66 crore from ₹298.12 crore in the previous fiscal.
Travel Food Services IPO Allotment Live: Deven Choksey Research on Travel Food
“Travel Food Services’ initial issue is priced at 26.1x TTM EV/EBITDA, below the QSR peer average of 31.9x TTM EV/EBITDA. We believe the issue is priced attractively, compared to its listed peers. Not only it has been able to scale up its operations and overall revenue in-line with it peers but has also managed to improve gross and EBITDA margins. We expect the Company to continue expanding its presence over the country and overseas both into QSR outlets and lounges,” Deven Choksey Research in its IPO note.
Travel Food Services IPO Allotment Live: Anand Rathi on Travel Food IPO
"At the upper price band, the company’s FY25 price-to-earning (P/E) ratio stands at 38.2x, with a post-issue market capitalization of Rs 1,44,847 million. The company, a leader in QSR services at airports and highways, is expanding its presence in line with rising consumer spending and airport infrastructure development," said Anand Rathi Research in its IPO note.
Travel Food Services IPO Allotment Live: Anchor investors
Ahead of its public offering, Travel Food Services raised Rs 598.8 crore from anchor investors. The list of anchor participants included some of the biggest names in the investment world such as ICICI Prudential Mutual Fund, Abu Dhabi Investment Authority, Kotak Mutual Fund, Axis Mutual Fund, Fidelity, HDFC Life, and Tata AIA Life Insurance.
Interestingly, over 43% of the total anchor allocation was taken up by seven domestic mutual funds through 15 separate schemes.
Travel Food Services IPO Allotment Live: SBI Securities on Travel food IPO
“TFS is a proxy to the Indian aviation growth story. It has a strong presence across all the major airport terminals across India as well as concession wins at both the upcoming new airports at Greater Noida and Navi Mumbai. The brand portfolio has a healthy mix of third party and in-house QSR brands. At the upper price band of Rs 1,100, the stock is likely to trade at 39.9x FY25 EPS which is at a discount to listed QSR companies. TFS has superior margins and return ratios along with strong balance sheet,” said SBI Securities in its IPO note.
Travel Food Services IPO Allotment Live: Financial performance
Travel Food Services reported a strong financial performance in FY2025, with revenue from operations rising 20.87% year-on-year to Rs 1,687.74 crore, driven by like-for-like (LFL) sales growth and gains from new contract wins.
The company’s bottom line also saw a notable jump, with annual profit increasing 27.35% to Rs 379.66 crore from Rs 298.12 crore in the previous fiscal.
Travel Food Services IPO Allotment Live: Business overview
Travel Food Services (TFS) operates in two key segments within the travel ecosystem - quick service restaurants (Travel QSR) and airport lounges across India and select international locations. Its QSR outlets, designed for fast-paced travel environments, are present in airports and on nine Indian highways, offering a variety of food and beverage options under 127 partner and in-house brands. As of March 31, 2025, the company had established its presence in 14 airports across India, including major hubs like Delhi, Mumbai, and Bengaluru, as well as international airports in Malaysia and Hong Kong.
According to the CRISIL Report, TFS held a 26% market share in the Indian airport travel QSR segment and around 45% in the airport lounge segment in FY2025. Its lounge business caters to premium passengers and loyalty program members, providing designated areas within terminals. The company operates lounges in airports that collectively handle a significant share of passenger traffic, with 13 of the 14 Indian airports in its network ranking among the 15 busiest in the country.
Travel Food Services IPO Allotment Live: Key players of the issue
Coming to the key players of the issue, the book running lead managers include Kotak Mahindra Capital, HSBC Securities and Capital Markets (India), ICICI Securities and Batlivala & Karani Securities. Meanwhile, MUFG Intime is the registrar of the issue.
Travel Food Services IPO Allotment Live: GMP update
The share price of the company in the grey market ahead of its official listing on July 11 is trading at a premium of Rs 8. This indicates of a potential listing price of Rs 1,108 per share which is 0.73% above the issue price of Rs 1,100.
However, it is important to note that this is not the official listing price and may fluctuate based on market sentiment.
Travel Food Services IPO Allotment Live: Subscription number recap
The IPO of Travel Food Services wrapped up with a strong investor interest, recording an overall subscription of 2.88 times by the close of bidding. According to data from the stock exchanges, the offer garnered bids for 3.86 crore shares against the 1.34 crore shares on offer, within a price band of Rs 1,045 to Rs 1,100 per share.
The Qualified Institutional Buyers (QIB) segment drove the demand, subscribing their portion a 7.70 times. Non-Institutional Investors (NIIs) followed with a subscription of 1.27 times, while the Employee quota saw a 1.72 times. The Retail Individual Investors (RII) segment, however, lagged behind, subscribing just 0.69 times.
Travel Food Services IPO Allotment Live: BP Wealth on Travel Food IPO
"Financially, the company has reported steady growth in both its top line and bottom line. Revenue grew from Rs. 10,672 million in FY23 to Rs. 16,877 million in FY25, whereas Net Profit grew from Rs. 2,513 million in FY23 to Rs. 3,797 million in FY25. With a proven track record, strategic locations, and adaptable formats, the company offers long-term growth opportunities aligned with India’s aviation growth trajectory. The issue is valued at a P/E of 39.9x on the upper price band, based on FY25 earnings, which represents a discount to listed QSR companies," said the brokerage firm BP wealth in its IPO note.
Travel Food Services IPO Allotment Live: Listing date
The IPO of Travel Food Services, the operator behind several airport food and beverage outlets, opened for bidding on July 7 and concluded on July 9. The basis of share allotment was finalised on July 10, with investors now looking ahead to its market debut. The company is expected to list on both the BSE and NSE, with the tentative listing date set for Monday, July 14.
The last grey market premium (GMP) for the Travel Food Services IPO stands at ₹0 as of July 10, 2025, 08:56 PM. With a price band set at ₹1,100, the estimated listing price remains ₹1,100, indicating no premium in the grey market. This suggests a flat listing with no expected gain or loss per share.
Travel Food Services IPO Allotment Live: Know more about the company
Founded in 2009, Travel Food Services Limited (TFS) has emerged as a leading name in India’s travel retail and food service space. The company caters to millions of passengers through a wide network of food and beverage outlets spread across airports, railway stations, and highways nationwide.
TFS operates a diverse portfolio that includes both in-house dining concepts and partnerships with iconic global and Indian brands like KFC, Domino’s, Starbucks, and Café Coffee Day. This blend allows the company to meet a wide range of culinary preferences and price points.
With a robust presence in high-traffic locations such as Mumbai, Delhi, Bengaluru, and Chennai airports, TFS continues to shape the modern travel dining experience, setting new benchmarks in convenience, quality, and customer satisfaction.
As of July 10, 2025, 7:58 PM, the Grey Market Premium (GMP) for the Travel Food Services IPO stands at ₹0. With a price band of ₹1,100, the estimated listing price remains unchanged at ₹1,100. This suggests no expected gain or loss per share at the time of listing.
Travel Food Services IPO Allotment Live: Company's promoters
The promoters of the company include SSP Group plc, SSP Group Holdings Limited, SSP Financing Limited, SSP Asia Pacific Holdings Limited, the Kapur Family Trust, along with Varun Kapur and Karan Kapur.
Investors can place bids starting with a minimum of 13 shares and in multiples thereafter. The table below outlines the minimum and maximum investment limits for individual retail investors and High Net-Worth Individuals (HNIs), both in terms of share count and investment amount.
Travel Food Services IPO Allotment Live: GMP Trend
The current GMP of ₹5 indicates a weaker sentiment, leaning toward the lower end of the range. So far, the Grey Market Premium has fluctuated between a low of ₹0.00 and a high of ₹92.00.
Travel Food Services IPO Allotment Live: Price band set at ₹1,100
The price band for the Travel Food Services IPO has been fixed at ₹1,100 per share. Retail investors can apply for a minimum lot size of 13 shares, requiring an investment of ₹13,585.
For non-institutional investors, the small NII (sNII) category has a minimum application size of 14 lots (182 shares), amounting to ₹2,00,200. The big NII (bNII) category requires a minimum of 70 lots (910 shares), translating to an investment of ₹10,01,000.