Travel Food Services IPO Details
The key details of Travel Food Services’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹2000.00 Cr |
| Price Range | ₹1045 - ₹1100 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Employee Discount | ₹104 |
| Listing at | NSE and BSE |
| Minimum Quantity | 13 |
| Investment (cut-off price) | ₹14,300 |
| Pre IPO Promotor Holding | 100% |
| Post IPO Promotor Holding | Update soon |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Travel Food Services IPO Timelines
The IPO process for Travel Food Services includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
07/07/2025
Start Date09/07/2025
End Date11/07/2025
Refund Initiation11/07/2025
Credit of Shares to Demat Ac14/07/2025
Listing DateTravel Food Services IPO Lot Size
The Travel Food Services IPO has a fixed lot size of 13 shares, at an upper price band of ₹1,100 per share, requiring ₹14,300 per lot for retail investors. Retail investors can apply for a maximum of 169 shares worth ₹1,85,900. For Small HNI (S-HNI), the minimum application starts at 182 shares (₹2,00,200) up to 897 shares (₹9,86,700), while Big HNI (B-HNI) requires a minimum of 910 shares amounting to ₹10,01,000.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 13 | ₹14,300 |
| Retail Maximum | 13 | 169 | ₹1,85,900 |
| S-HNI Minimum | 14 | 182 | ₹2,00,200 |
| S-HNI Maximum | 69 | 897 | ₹9,86,700 |
| B-HNI Minimum | 70 | 910 | ₹10,01,000 |
Travel Food Services IPO Subscription Status
The subscription status for Travel Food Services IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
| 8.10x | 1.67x | 0.73x | 1.81x | 3.03x |
IPO Performance on Listing Day
On the listing day (July 14, 2025), Travel Food Services made a muted debut on the stock exchange. The stock opened at ₹1125, offering a mild premium of 2.3% over its issue price of ₹1100. However, during the trading session, the stock witnessed volatility, touching a day high of ₹1130 but also slipping to a low of ₹1066. By the end of the day, shares settled at ₹1074.80, closing 2.3% below the issue price, reflecting cautious investor sentiment towards the company.
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹1125.00 | ₹1074.80 | ₹1130.00 | ₹1066.00 |
Travel Food Services IPO Company Financials
Travel Food Services reports robust performance in FY2024 with Total Income of ₹1,462.29 crores, managing expenses at ₹1146.72 crores, and achieving a strong PAT (Profit After Tax) of ₹298.02 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2022 | ₹441.66 | ₹429.78 | ₹5.03 |
| FY 2023 | ₹1,103.58 | ₹824.21 | ₹251.3 |
| FY 2024 | ₹1,462.29 | ₹1146.72 | ₹298.02 |
| FY 2025 | ₹1,762.71 | ₹1,305.65 | ₹379.66 |
About Company
Incorporated in 2007, Travel Food Services Limited is a prominent player in the Indian airport food and beverage sector, specializing in travel quick service restaurants (Travel QSR) and airport lounges. As of June 30, 2024, the company operates 397 Travel QSR outlets across India and Malaysia, offering a diverse portfolio of 117 partner and in-house brands. These outlets provide a variety of curated F\&B options designed to meet the demands of travelers for speed and convenience. The company’s lounge business caters primarily to premium travelers, including first and business-class passengers, loyalty program members, and select cardholders, offering exclusive services in designated airport areas.
Travel Food Services has a presence in 14 airports in India and three in Malaysia, with key locations including Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, and Chennai airports. The company boasts long-standing operations at major hubs, having been at the Mumbai airport for 15 years, Delhi for 14 years, Chennai for 11 years, and Bengaluru for 5 years. This established footprint reflects its strong market presence and operational experience in high-traffic travel environments.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2007 | Hotels & Resorts | Varun Kapur |
Know Before Investing
Travel Food Services IPO Strengths
- Travel Food Services (TFS) is a dominant player in India’s airport quick-service restaurant (QSR) and lounge sectors, holding 24% market share in Travel QSRs and 45% in airport lounges as of FY24.
- The company operates in 14 major Indian airports—including Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, and Chennai—covering 74% of India’s domestic and international air traffic.
- TFS manages 117 partner and in-house F&B brands, offering a wide range of cuisines and formats to cater to diverse traveler needs.
- The company has secured long-term contracts and strategic partnerships with major airport operators, ensuring stable and consistent business operations.
- TFS has developed specialized expertise in managing F&B operations within the highly regulated and secure airport environment, handling compliance, security, and 24/7 service demands.
- Beyond India, TFS has established a presence in Malaysia and recently expanded to Hong Kong, demonstrating its ability to scale and adapt internationally.
- With India’s air passenger traffic and airport infrastructure expanding rapidly, TFS is well-positioned to capture further growth opportunities in the travel F&B sector.
Travel Food Services IPO Risks
- Revenue is heavily reliant on air, rail, and highway traveler volumes, making the business vulnerable to disruptions like pandemics, economic downturns, or geopolitical events.
- Operations require compliance with evolving airport/railway authority regulations, security protocols, and concession agreements; policy changes could impact contracts or profitability.
- Despite operating in 14 airports, revenue remains concentrated in major hubs like Delhi and Mumbai, exposing the business to location-specific risks.
- As a travel-linked business, it faces cyclical demand fluctuations during economic slowdowns, reducing discretionary spending on F&B services.
- Long-term leases at airports/railways entail significant fixed costs, creating financial strain during low-traffic periods.
- Operations in Malaysia and Hong Kong expose the company to currency volatility, geopolitical tensions, and cross-border regulatory challenges.
Swot Analysis for Travel Food Services IPO
Strengths
Global-Strategic Partnerships, Scalable Infrastructure, Robust Financials
Weaknesses
Aviation Sector Dependence, Geographic Concentration, Operational Cost Pressures
Opportunities
Aviation Market Growth, Infrastructure Expansion, Lounge Market Underpenetration
Threats
Travel Sector Volatility, Regulatory Complexity, Competitive Intensity
Company Details
Travel Food Services Limited
Block-A South Wing 1stFloor, Shiv Sagar Estate, Dr. Annie Besant Road, Worli, Mumbai 400018, Maharashtra, India
Phone: +91 22 4322 4322
Email: cs@travelfoodservices.com
Website: https://www.travelfoodservices.com/
IPO Registar Details
MUFG Intime India Private Limited (Link Intime)
Phone: +91-22-4918 6270
Email: travelfood.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
FAQs
The key objectives of Travel Food Services IPO are:
The company will not receive any proceeds from the offer; all proceeds will go to the Promoter Selling Shareholder after deductions. But the issuance might achieve the following purposes:
- The offer aims to sell up to ₹20,000 million worth of shares by the Promoter Selling Shareholder.
- The objective includes listing the Equity Shares to boost brand visibility and market presence.
- The listing is expected to provide liquidity and enable a public market for the shares in India.
Kotak Mahindra Capital Company Limited, Hsbc Securities & Capital Markets Pvt Ltd, ICICI Securities Limited, Batlivala & Karani Securities India Private Limited are the book-running lead managers for the Travel Food Services IPO.
Travel Food Services (TFS) is well-positioned for strong growth, backed by its dominant market share in India’s airport QSR (24%) and lounge (45%) segments. Its extensive network of 397 outlets and 31 lounges across key domestic and international travel hubs provides a solid foundation for expansion.
The issue price for the Travel Food Services IPO is set between ₹1045 to ₹1100 per share.
To invest in one lot of Travel Food Services IPO, you need ₹13,585 at the lower price band (₹1045 per share) or ₹14,300 at the upper price band (₹1100 per share) for a lot size of 13 shares.
Travel Food Services IPO shares are scheduled to be listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on July 14, 2025.
Refund/unblocking of funds for Travel Food Services IPO will begin on July 11, 2025. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your Travel Food Services IPO shares on listing day (July 14, 2025) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.