The brokerage believes that TFS' ability to secure and renew airport concessions, combined with rising per-passenger spending, will support consistent growth across its QSR and lounge businesses.
Under the agreement, Travel Food Services will act as the concessionaire for the Domestic Terminal (T1), operating around 11 Travel QSR outlets and one lounge.
Travel Food Services shares listed at ₹1,126.20 per share on the BSE and ₹1,125 per share on the NSE, against the IPO issue price of ₹1,100 per share