Travel Food Services IPO Opens on July 7: Price Band Rs 1,045–Rs 1,100, Key Details and Business Overview

Mumbai-based Travel Food Services is launching its Rs 2,000 crore initial public offering (IPO) on July 7, 2025. The public issue will close on July 9, 2025. This IPO is entirely an offer-for-sale (OFS) by the promoter, Kapur Family Trust, which means the company itself will not receive any money from the offer and all proceeds will go to the selling shareholders.

IPO Details:

The price band for the IPO has been fixed between Rs 1,045 and Rs 1,100 per share, and investors can place bids in lots of 13 shares and in multiples thereafter. The minimum investment for retail investors will be Rs 13,585, while the maximum investment will be Rs 14,300 for 1 lot. The company is also offering a discount of Rs 104 per share to its eligible employees.

The IPO has reserved up to 50% of the shares for Qualified Institutional Buyers (QIBs), at least 35% for retail investors, and a minimum of 15% for Non-Institutional Investors (NIIs). Additionally, Rs 4 crore worth of shares have been reserved for eligible employees.

The IPO is managed by Kotak Mahindra Capital Company, HSBC Securities and Capital Markets (India), ICICI Securities, and Batlivala & Karani Securities India.

The IPO was approved by the Securities and Exchange Board of India (SEBI) on April 22, 2025, following the company's filing of draft papers in December 2024.

Travel Food Services IPO Dates:

The IPO will open to anchor investors on July 4. The share allotment will be finalized on July 10, followed by the initiation of refunds and credit of shares to the Demat accounts of successful bidders on July 11. The shares are expected to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on July 14.

About Travel Food Services:

Travel Food Services is a leading operator of quick-service restaurants (QSRs) and airport lounges, with a presence in 14 Indian airports, 3 in Malaysia, and 1 in Hong Kong. As of June 30, 2024, it runs 397 QSR outlets and 37 lounges, mostly located inside airports.

Founded in 2007, the company is promoted by London-based SSP Group and the Kapur Family Trust, under the K Hospitality brand. It offers 117 partner and in-house food brands, including international names like KFC, Pizza Hut, and Subway, Jamie Oliver's Pizzeria, Wagamama, Coffee Bean & Tea Leaf, and Krispy Kreme as well as Indian favorites like Wow! Momo, Hatti Kaapi.

Third Wave Coffee, Sangeetha, and Bikanervala. The company has also developed its own in-house brands like CafA ©ccino, idli.com, Dilli Streat, and Curry Kitchen.

Business Growth Figures:

As of June 30, 2024, it runs 397 QSR outlets and 37 lounges. These are spread across major airports such as Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, and Chennai. Out of the 413 total outlets, 384 are located inside airports, and the rest are in highway locations. This gives the company one of the largest travel QSR footprints in India.

Travel Food Services has shown strong growth. In the fiscal year 2025, the company's profit rose by 27.4% to Rs 379.7 crore, while revenue increased by 20.9% to Rs 1,687.7 crore compared to the previous year. This growth reflects the rising demand for food and hospitality services at travel locations like airports.