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Travel Food Services IPO Listing: Shares to debut today; check latest GMPTravel Food Services IPO Listing: The ₹2,000 crore issue was subscribed 2.88 times at close. The qualified institutional buyers (QIBs) portion was subscribed 7.70 times, followed by non-institutional investors (NIIs) portion at 1.58 times. Retail investors' quota had a subscription rate of 69%.By Meghna Sen   July 14, 2025, 9:06:04 AM IST (Published)2 Min ReadShares of Travel Food Services are set to make their Dalal Street debut on Monday, July 14. The company operates a travel quick-service restaurant and a lounge business across airports in India and Malaysia.

Travel Food Services has been losing its ground in the unlisted market. As of the last update, Travel Food Services IPO GMP or grey market premium stood at ₹25.

Considering the upper price band, the estimated listing price of Travel Food Services was indicated at ₹1,125 apiece, at 2.27%.

Initially, when the IPO was announced, the GMP stood at around ₹90.

The ₹2,000 crore issue was subscribed 2.88 times at close. The qualified institutional buyers (QIBs) portion was subscribed 7.70 times, followed by non-institutional investors (NIIs) portion at 1.58 times. Retail investors' quota had a subscription rate of 69%.

The IPO was open for subscription between July 7 and July 9. The company sold its shares in a fixed price band of ₹1,045 to ₹1,100 for its public offer.

The IPO was entirely an offer for sale (OFS) of shares worth ₹2,000 crore by promoter Kapur Family Trust. The offer includes reservations for subscriptions by eligible employees.

Since the IPO was entirely an OFS, the company will not receive any funds from the issue and the proceeds will go to the selling shareholder.

In an earlier interaction with CNBC-TV18, the management said it will continue the current revenue and margin momentum. Card networks, banks, and airlines are among its customers. The company gets paid per lounge use by access providers. Margins for both the QSR and lounge businesses are similar.

Travel Food Services is a leading player in the Indian Airport Travel QSR and Lounge industry. As of FY25, the company accounted for 26% market share in the Indian Airport Travel QSR and 45% in the Indian Airport Lounge sectors, respectively, in terms of revenue.

The company’s Travel QSRs are predominantly situated within airports while, the Lounge business comprises of designated areas within airport terminals. As of March 2025, TFS operated 442 Travel QSRs across India and Malaysia and 37 Lounges across India, Malaysia and Hong Kong.

The company has added 80, 92 and 96 outlets respectively in FY25, FY24 and FY23.

In FY25, Travel Food Services posted a 27.4% year-on-year rise in profit to ₹379.7 crore, while revenue rose 21% to ₹1,687.7 crore.

Kotak Mahindra Capital was the book-running lead manager of the Travel Food Services IPO, while MUFG Intime India (Link Intime) was the registrar for the issue.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsIPO