Travel Food Services IPO sees weak demand; subscription lags at 15%, GMP 2%

Travel Food Services IPO: Check latest subscription status, grey market premium (GMP), price band, lot size, allotment date, listing date, and other key details here

The initial public offering (IPO) of quick service restaurant (QSR) provider Travel Food Services has received a lacklustre response from investors so far. The issue, which opened for subscription on July 7, has received bids for 20,40,506 shares against 1,34,12,842 shares on offer, translating to a subscription of 15 per cent as of 11:33 AM on Tuesday, July 8, according to data available on the NSE.

 

Investor participation across all categories remains sluggish. The retail portion has been subscribed only 21 per cent, while non-institutional investors (NIIs) have picked up 13 per cent of their quota. Qualified institutional buyers (QIBs), typically the key driver in institutional demand, have so far subscribed a mere 7 per cent.

 

Travel Food Services IPO details

Travel Food Services IPO comprises an entirely offer-for-sale (OFS) with promoter Kapur Family Trust divesting up to 18.2 million equity shares estimated to be valued at ₹2,000 crore. The company has already raised ₹598.80 crore from anchor investors.

 

Travel Food Services IPO is available at a price band of ₹1,045–1,100 per share with a lot size of 13 shares.

 

A retail investor can bid for a minimum of one lot or 13 shares of Travel Food Services IPO with an investment amount of ₹14,300 (taking the upper price band into consideration). To bid for a maximum of 13 lots or 169 shares, a retail investor would require ₹1,85,900.  ALSO READ | Glen Industries IPO opens for bidding; subscribed 21%, GMP up 25%

Travel Food Services IPO grey market premium (GMP)

The unlisted shares of Travel Food Services were commanding a muted premium in the grey market on the second day of its subscription period. Sources tracking unofficial market activities revealed that Travel Food Services shares were seen trading at around ₹1,116 per share, reflecting a grey market premium (GMP) of ₹16 or 1.45 per cent over the upper end of the issue price.

Travel Food Services IPO timeline

Travel Food Services IPO will remain available for public subscription till Wednesday, July 9, 2025. The basis of allotment of Travel Food Services IPO shares is scheduled to be finalised on Thursday, July 10, with shares getting credited into demat accounts on Friday, July 11.

 

Shares of Travel Food Services are scheduled to list on the BSE and NSE tentatively on Monday, July 14.

Travel Food Services IPO registrar, lead managers

For the public offering, MUFG Intime India (erstwhile Link Intime India) acts as the registrar, while Kotak Mahindra Capital Company serves as the sole book-running lead manager.  ALSO READ | Cryogenic OGS IPO allotment today; check status, latest GMP, listing date

Travel Food Services IPO objective

Travel Food Services will not receive any proceeds from the offer. "All offer proceeds will be received by the promoter selling shareholder after deduction of offer-related expenses and relevant taxes thereon, to be borne by the promoter selling shareholder," the company said in its Red Herring Prospectus (RHP).

 

About Travel Food Services

Incorporated in 2007, Travel Food Services operates airport travel quick service restaurants and lounges. The company has a portfolio of 117 partner and in-house brands, operating 397 Travel QSRs across India and Malaysia. Travel Food Services' business includes curated food and beverage concepts and airport lounges accessible to select passengers and loyalty program members. The company is present in 14 airports in India and three airports in Malaysia, including Delhi, Mumbai, Bengaluru, and Chennai airports.