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Travel Food Services IPO is a book build issue of ₹2,000.00 crores. The issue is entirely an offer for sale of 1.82 crore shares of ₹2,000.00 crore.
Travel Food Services IPO bidding started from Jul 7, 2025 and ended on Jul 9, 2025. The allotment for Travel Food Services IPO was finalized on Jul 10, 2025. The shares got listed on BSE, NSE on Jul 14, 2025.
Travel Food Services IPO price band is set at ₹1100.00 per share . The lot size for an application is 13. The minimum amount of investment required by an retail is ₹14,300 (13 shares) (based on upper price). The lot size investment for sNII is 14 lots (182 shares), amounting to ₹2,00,200, and for bNII, it is 70 lots (910 shares), amounting to ₹10,01,000.
The issue includes a reservation of up to 40,160 shares for employees offered at a discount of ₹104.00 to the issue price.
Kotak Mahindra Capital Co.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Travel Food Services IPO RHP for detailed Information.
| IPO Date | July 7, 2025 to July 9, 2025 |
| Listing Date | July 14, 2025 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹1045 to ₹1100 per share |
| Issue Price Final | ₹1100 per share |
| Lot Size | 13 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 1,81,82,802 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 |
Travel Food Services IPO offers total 1,81,85,613 shares. Out of which 90,72,726 (49.89%) allocated to QIB, 36,29,091 (19.96%) allocated to QIB (Ex- Anchor), 27,21,818 (14.97%) allocated to NII, 63,50,909 (34.92%) allocated to RII and 54,43,635 (29.93%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 90,72,726 (49.89%) | NA |
| − Anchor Investor Shares Offered | 54,43,635 (29.93%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 36,29,091 (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 | 40,160 (0.22%) | NA |
| Total Shares Offered | 1,81,85,613 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Up to Rs 5 Lakhs | Yes |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Travel Food Services IPO raises ₹598.80 crore from anchor investors. Travel Food Services IPO Anchor bid date is July 4, 2025. Travel Food Services IPO Anchor Investors list
| Bid Date | July 4, 2025 |
| Shares Offered | 54,43,635 |
| Anchor Portion Size (In Cr.) | 598.80 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 9, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 8, 2025 |
Travel Food Services IPO opens on July 7, 2025, and closes 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 Wed, Jul 9, 2025 |
Investors can bid for a minimum of 13 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
| B-HNI (Min) | 70 | 910 | ₹10,01,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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:
Travel Food Services Limited's revenue increased by 21% and profit after tax (PAT) rose by 27% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 1,902.73 | 1,696.44 | 1,332.32 |
| Total Income | 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 | |
| Amount in ₹ Crore | |||
The market capitalization of Travel Food Services IPO is ₹14484.74 Cr.
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 35.47% |
| ROCE | 51.40% |
| RoNW | 34.64% |
| PAT Margin | 21.54% |
| EBITDA Margin | 40.07% |
| Price to Book Value | 13.82 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 28.83 | 28.83 |
| P/E (x) | 38.15 | 38.15 |
The company will not receive any proceeds from the Offer and all the Offer Proceeds will be received by the Promoter Selling Shareholder.
[Dilip Davda] TFSL is a leader in QSR related services and F&B outlets on airports and highways. It has its outlets on major airports in India and is planning to expand the same in line with the higher spending and infra developments on airports constructions. The company has posted steady growth in its top and bottom lines. As it enjoys niche place in the segment and will be the first mover, post listing fancy for this counter is not ruled out. Based on its recent financial data, the issue appears fully priced. Investors may park funds for medium to long term. Read detail review...
| Listing Date | July 14, 2025 |
| BSE Script Code | 544443 |
| NSE Symbol | TRAVELFOOD |
| ISIN | INE103V01028 |
| Final Issue Price | ₹1100 per share |
| NSE Listing Group | EQ |
| BSE Listing Group | B |
Travel Food Services Ltd.
Block-A South Wing 1st Floor,
Shiv Sagar Estate, Dr. Annie Besant Road
Worli,
Mumbai, Maharashtra, 400018
Phone: +91 22 4322 4322
Email: cs@travelfoodservices.com
Website: https://www.travelfoodservices.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: travelfood.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Travel Food Services IPO is a main-board IPO of 1,81,82,802 equity shares of the face value of ₹1 aggregating up to ₹2,000.00 Crores. The issue is priced at ₹1100 per share. The minimum order quantity is 13.
The IPO opens on July 7, 2025, and closes on July 9, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Travel Food Services IPO using UPI as a payment gateway. Zerodha customers can apply in Travel Food Services IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Travel Food Services IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Travel Food Services IPO opens on July 7, 2025 and closes on July 9, 2025.
Travel Food Services IPO lot size is 13, and the minimum amount required for application is ₹14,300.
You can apply in Travel Food Services IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Travel Food Services IPO will be done on Thursday, July 10, 2025, and the allotted shares will be credited to your demat account by Friday, July 11, 2025. Check the Travel Food Services IPO allotment status.
The Travel Food Services IPO listing date is on Monday, July 14, 2025.
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