travel food services ipo 2025: complete details & dates
travel food services ipo 2025 details: check complete issue size, allotment date, listing schedule & gmp trend. stay tuned for latest 2025 updates.
The Travel Food Services IPO 2025 Details are finally here, and investors are buzzing about this unique player in the airport food & beverage and travel lounge sector. With presence in over 14 Indian airports and 3 Malaysian airports, Travel Food Services Limited (TFS) is now making its public market debut — and we’re here to guide you through everything!
In this detailed post, you’ll find:
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📅 IPO dates, price band, and listing timeline
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📊 Company profile and financial performance
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💰 GMP (Grey Market Premium) trend
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🧮 Lot size, reservation quota, registrar & more
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✅ Should you apply or avoid?
Let’s take off into the details of this much-anticipated IPO 🚀
🔍 What is Travel Food Services IPO?
Travel Food Services IPO 2025 is a book-building public offer, entirely comprising an Offer for Sale (OFS). That means the company itself won’t receive any fresh capital — instead, existing shareholders (like promoters) are offloading their shares to public investors.
Here’s a quick overview:
| Particulars | Details |
|---|---|
| IPO Type | Book Building (100% OFS) |
| Issue Size | ₹2,000 Cr (Expected) |
| Face Value | ₹1 per share |
| Price Band | To be announced |
| IPO Open Date | July 3, 2025 |
| IPO Close Date | July 7, 2025 |
| Listing Exchanges | BSE, NSE |
| Tentative Allotment Date | July 8, 2025 |
| Refund Initiation | July 9, 2025 |
| Demat Credit | July 9, 2025 |
| Tentative Listing Date | July 10, 2025 |
| Lead Managers | Kotak, HSBC, ICICI Sec, B&K Sec |
| Registrar | Link Intime (MUFG Intime India) |
🏢 About Travel Food Services Limited
Founded in 2007, Travel Food Services Limited is one of India's largest operators of Travel QSRs (Quick Service Restaurants) and Airport Lounges.
They operate under 117+ brands (partner + in-house) and run:
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397 QSR outlets across India and Malaysia
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Lounge services at major Indian airports
🛫 Presence in Airports:
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India: Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Kolkata
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Malaysia: 3 airports
Experience across airports:
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15+ years in Mumbai Airport
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14 years in Delhi
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11 years in Chennai
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5 years in Bengaluru
This deep-rooted presence gives TFS unmatched understanding of air traveler preferences and airport operations.
🍽️ Business Segments
1. Travel QSR (Quick Service Restaurant)
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Branded kiosks offering food and beverages across global cuisines
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Designed for high-speed service and traveler convenience
2. Airport Lounge Services
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Premium lounge experience for first/business-class travelers, credit card members, loyalty program holders
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Available in both domestic & international terminals
Core USP: Hybrid model of in-house brands + partnerships with reputed global and Indian names, backed by parentage of SSP Group (UK-based F&B leader) and K Hospitality.
📈 Travel Food Services Financials (₹ in Cr)
| Period Ended | Jun 30, 2024 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Assets | 1,771.16 | 1,623.39 | 1,332.32 | 1,056.49 |
| Revenue | 425.20 | 1,462.29 | 1,103.58 | 441.66 |
| Profit After Tax | 59.55 | 298.02 | 251.30 | 5.03 |
| EBITDA | 132.89 | 549.89 | 458.05 | 140.27 |
| Net Worth | 851.83 | 796.00 | 651.12 | 406.51 |
| Total Borrowing | 66.97 | 63.78 | 31.05 | 38.17 |
🟢 Revenue almost tripled from FY22 to FY24
🟢 PAT grew nearly 60x from FY22 to FY24
🟢 EBITDA margin close to 40%
📊 Key Performance Indicators (KPI)
| Metric | Value |
|---|---|
| ROE | 36.57% |
| ROCE | 49.97% |
| RoNW | 36.14% |
| PAT Margin | 20.38% |
| EBITDA Margin | 39.38% |
These metrics suggest an efficient and highly profitable business — rare in hospitality.
📃 Travel Food Services IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | Not more than 50% of Net Offer |
| Retail | Not less than 35% of Net Offer |
| NII | Not less than 15% of Net Offer |
👨👩👧 Promoters & Shareholding
Promoters:
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SSP Group plc
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SSP Holdings, Financing & Asia Pacific
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Kapur Family Trust
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Varun Kapur & Karan Kapur
| Shareholding Pattern | % |
|---|---|
| Pre-IPO Promoter Holding | 100% |
| Post-IPO Holding | To be updated (OFS only) |
Since this IPO is 100% OFS, no fresh equity is being issued. The entire ₹2,000 Cr proceeds go to promoters.
🧾 IPO Objects
This is purely an Offer For Sale.
Meaning:
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Company will NOT receive any fresh funds
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Entire proceeds go to promoter shareholders
Hence, investors should evaluate based on business fundamentals, not capital deployment plans.
💰 GMP (Grey Market Premium) Status
As of June 28, 2025:
| Date | GMP | Movement | Est. Listing Price | Est. Profit |
|---|---|---|---|---|
| Jun 28 | ₹0 | No Change | TBD | ₹0 |
| Jun 27 | ₹0 | No Change | TBD | ₹0 |
🔍 Current GMP: ₹0
📊 Trend: Neutral, early sessions — market watching institutional bids
Disclaimer: GMP is unofficial & volatile. Do not rely solely on GMP for IPO decision.
🔑 Strengths of Travel Food Services
✅ Established presence at India’s busiest airports
✅ Proven partnerships with 100+ top F&B brands
✅ Consistent EBITDA margin of ~40%
✅ Growing demand for travel and airport F&B in India
✅ Strong ROE and PAT margins
⚠️ Risks & Considerations
⚠️ 100% OFS — no growth capital for the business
⚠️ Price band not yet declared
⚠️ No clarity on valuation as of now
⚠️ Highly dependent on travel sector performance
⚠️ No GMP traction yet
🤔 Should You Apply for Travel Food Services IPO?
| Factor | Verdict |
|---|---|
| Business Model | ✅ Unique & Scalable |
| Financial Performance | ✅ Strong |
| GMP Trend | ⚠️ Too Early |
| IPO Type | ⚠️ 100% OFS |
| Price Band | 🚫 Not Announced Yet |
| Listing Gains Possibility | 🔍 Uncertain |
👉 Our Suggestion:
Wait for the price band announcement and institutional response before applying. Ideal for long-term investors who believe in India’s aviation and travel growth story.
❓ Travel Food Services IPO 2025 – FAQs
1. What is the opening date for Travel Food Services IPO?
It opens on July 3, 2025.
2. What is the IPO price band for Travel Food Services IPO?
Not declared yet — to be announced soon.
3. What is the listing date?
Tentative listing is on July 10, 2025.
4. What type of IPO is it?
It is a bookbuilding IPO with 100% Offer for Sale.
5. Will the company receive funds from the IPO?
No, all proceeds go to the selling shareholders.
6. Who are the lead managers?
Kotak, HSBC, ICICI Securities, and Batlivala & Karani.
7. What is the GMP for Travel Food Services IPO?
GMP is currently ₹0. No price movement observed yet.
8. Where will the shares be listed?
On both NSE and BSE.
9. Who are the promoters?
SSP Group entities and Kapur Family Trust.
10. How can I apply via UPI?
You can apply using Zerodha, Groww, Paytm Money, Upstox and others before 5 PM on July 7.
📝 Final Thoughts
The Travel Food Services IPO 2025 Details highlight a profitable, niche airport F&B and lounge player with long-term growth potential. However, with the price band and valuation still under wraps and no fresh capital injection, short-term investors should proceed cautiously.
📌 Keep a close eye on GMP movement and QIB subscription before applying.
📢 Stay Updated on InvestSimpli.com
👉 Bookmark us for real-time:
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GMP updates
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Allotment status
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Listing price forecasts
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Complete IPO reviews
And more — all simplified for Indian retail investors like you 🇮🇳💸
⚠️ Disclaimer
This content is for informational and educational purposes only. It does not constitute investment advice. Please consult your financial advisor before investing in any IPO.
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travel food services ipo 2025 details: check complete issue size, allotment date, listing schedule & gmp trend. stay tuned for latest 2025 updates. The Travel Food Services IPO 2025 Details are finally here, and investors are buzzing about this unique player in the airport food & beverage and travel lounge sector. With presence in over 14 Indian airports and 3 Malaysian airports,...