The Travel Food Services IPO marks a significant development in India’s food and beverage industry, particularly within the travel and hospitality segment. Travel Food Services Limited (TFS) is a market leader, operating over 380 outlets and 27 lounges across 19 cities, primarily at major airports and travel hubs. The company’s diverse portfolio includes both international and in-house brands, catering to the evolving needs of travelers with quick service restaurants and premium lounge experiences. The Travel Food Services IPO is expected to draw attention from investors seeking exposure to India’s rapidly expanding travel and hospitality sector.
₹30
₹1100
₹1125.00
Expert Opinions
The Travel Food Services IPO is attracting robust market sentiment, with investors drawn to its dominant position in India’s airport food and lounge sector and its consistent financial growth. The company’s strengths include a 26% share in the airport QSR market and 45% in airport lounges by revenue for FY 2025, a diverse portfolio of over 127 brands, and operations in major airports across India and select international locations. However, risks include its reliance on airport footfall, regulatory changes, and the cyclical nature of travel demand.
For FY 2025, the Travel Food Services IPO valuation highlights strong fundamentals: Return on Equity (ROE) at 35.47%, Return on Capital Employed (ROCE) at 51.40%, and Net Asset Value (NAV) of ₹79.62. From a long-term perspective, the company’s established market presence, expansion plans, and exposure to India’s growing travel sector make it a compelling option for investors seeking sustained growth, though sector-specific risks should be monitored.
Investor Considerations
Investors evaluating the Travel Food Services IPO should note the company’s strong fundamentals, with FY 2025 revenue at ₹1,762.71 crore and profit after tax of ₹379.66 crore, reflecting consistent double-digit growth. The sector outlook is robust, given the rising demand for organized food services at airports and travel hubs, positioning TFS as a leader with a well-diversified brand portfolio and presence at major Indian and select international airports.
The Travel Food Services IPO’s FY 2025 valuation shows a Price to Book Value of 18.20, a PAT margin of 21.54%, and an EBITDA margin of 40.07%, indicating high profitability and operational efficiency. Growth prospects are supported by expanding air travel and TFS’s established partnerships. Key risks include dependence on airport footfall, regulatory changes, and sector cyclicality. While short-term investors may benefit from initial momentum, long-term investors should focus on sustained sector growth and TFS’s ability to maintain market leadership.
| Date | GMP | Trend |
|---|---|---|
| 13 Jul 2025 15.27 | ₹30 | Down |
| 12 Jul 2025 16.02 | ₹40 | Up |
| 11 Jul 2025 10.15 | ₹5 | --- |
| 10 Jul 2025 10.30 | ₹5 | --- |
| 09 Jul 2025 17.58 | ₹5 | Down |
| 08 Jul 2025 17.10 | ₹12 | Down |
| 07 Jul 2025 19.35 | ₹15 | Down |
| 06 Jul 2025 17.10 | ₹45 | Down |
| 05 Jul 2025 10.24 | ₹80 | Down |
| 04 Jul 2025 10.40 | ₹90 | Up |
| 02 Jul 2025 10.24 | ₹00 | --- |
| 29 Jun 2025 10.53 | ₹00 | --- |
| 28 Jun 2025 13.49 | ₹00 | --- |
FAQs
The Grey Market Premium showed low accuracy in predicting Travel Food Services IPO’s listing performance. With a final GMP of ₹30, it suggested a premium of 2.73% over the issue price of ₹1100. However, the stock listed at ₹1125, delivering a smaller-than-expected gain of 2.27%. This resulted in a prediction error of 0.46%, indicating that while GMP pointed in the right direction, it slightly overestimated the actual listing gain, reflecting limited reliability in this case.
Travel Food Services IPO Current GMP is ₹30.
Travel Food Services IPO Expected Returns is 2.73%.
Travel Food Services IPO estimated listing price is ₹1130.