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Travel Food Services Ltd

Hotels & Restaurants

Offer Period :

7th to 9th Jul 2025

Travel Food Services Ltd IPO Details

IPO Date 7th to 9th Jul 2025 Minimum Investment ₹14300 / 1 Lots
Listing Date 2025-07-14 Maximum Investment ₹185900 / 13 Lots
Face Value ₹1 per share Total Issue Size ₹2000 Crores
Price ₹1100 to ₹1100 per share Fresh Issue ₹0 Crores
Lot Size 1 Lots (13 Shares) Offer For Sale ₹ [-]
Listing At BSE, NSE Retail Discount ₹ 0
Employee Discount ₹104 per Share Shareholding Pre Issue 131679484 Shares
Issue Type Book Building Shareholding Post Issue 131679484 Shares
IPO Date 7th to 9th Jul 2025
Listing Date 2025-07-14
Face Value ₹1 per share
Price ₹1100 to ₹1100 per share
Lot Size 1 Lots (13 Shares)
Listing At BSE, NSE
Total Issue Size ₹2000 Crores
Employee Discount ₹104 per share
Issue Type Book Building
Minimum Investment ₹14300 / 1 Lots
Maximum Investment ₹185900 / 13 Lots
Fresh Issue ₹0 Crores
Offer For Sale ₹[-] Crores
Retail Discount ₹0 Crores
Shareholding Pre Issue 131679484 Shares
Shareholding Post Issue 131679484 Shares

About Travel Food Services Ltd IPO

Incorporated in 2007, Travel Food Services Limited operates in the travel quick service restaurant (Travel QSR) and airport lounge segments across India and parts of Asia. As of June 30, 2024, the company manages 397 Travel QSRs and offers a diverse food and beverage (F&B) portfolio made up of 117 partner and in-house brands. These outlets serve passengers in travel-focused environments, designed to meet preferences for speed and convenience. The business also includes lounges within airport terminals, accessible to eligible passengers through class-based access, credit/debit card affiliations, or loyalty programme memberships.
 

The company operates its Travel QSR and Lounge businesses in 14 airports in India and three airports in Malaysia, with additional outlets in select highway locations across India. Notable airport presences include long-standing operations at Delhi, Mumbai, Bengaluru, and Chennai. As of March 31, 2025, the F&B brand count increased to 127, and the company continues to collaborate with Lounge Partners to expand customer access.

Founding Year: 2007

Managing Director: Varun Sunil Kapur

Travel Food Services Limited Timeline

Important dates for allocation and IPO listing.

7th Jul

IPO Opens

9th Jul

IPO Close

10th Jul

Allotment Date

11th Jul

Initiation of Refund

11th Jul

Credit of Shares to Demat Account

14th Jul

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 100 86.19
Public Group 0 13.81

Travel Food Services Ltd IPO Reservation

QIB Shares Offered 3629091(19.96%)
NII (HNI) Shares Offered 2721818(14.97%)
Retail Shares Offered 6350909(34.93%)
Anchor Investor Shares Offered 5443636(29.94%)
Total Shares Offered 18181818
Total Shares With Anchor Investor 18181818

Travel Food Services Ltd IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 13 ₹14300
Retail (Max) 13 169 ₹185900
S HNI (Min) 14 182 ₹200200
S HNI (Max) 69 897 ₹986700
B HNI (MIN) 70 910 ₹1001000

Travel Food Services Ltd IPO Anchor Investor Details

Bid Date 04 July 2025
Shares Offered 0
Anchor Portion Size 0

Travel Food Services Ltd IPO Registrar

MUFG Intime India Pvt Ltd
Phone Number +91 81 0811 4949
Email Id travelfood.ipo@linkintime.co.in
Our Website www.linkintime.co.in

Travel Food Services Ltd IPO Lead Manager

1. Kotak Mahindra Capital Company Ltd

2. HSBC Securities & Capital Markets (India) Pvt Ltd

3. ICICI Securities Ltd

4. Batlivala & Karani securities India Pvt Ltd

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Travel Food Services Ltd Financial Information

Period Ended March 31, 2025 March 31, 2024 March 31, 2023
Net Worth ₹797.93 ₹681.84 ₹535.76
Reserves and Surplus ₹784.77 ₹677.97 ₹531.88
Total Borrowing ₹0 ₹12.05 ₹27.56

Travel Food Services Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed
Qualified Institutional Buyers (QIBs) 3820095 29398278 7.6957
Non Institutional Investors (NIIs) 2865072 4536662 1.5834
NII(Bid amount of more than Ten Lakh Rupees) 1910048 3328143 1.7424
NII(Bid amount of more than 2 Lakh < 10 Rupees) 955024 1208519 1.2654
Retail Individual Investors (RIIs) 6685168 4627506 0.6922
Total 13412842 38635766 2.8805

Strength of Travel Food Services Ltd

1. Leading Player in the Travel QSR and Lounge sectors in Indian airports.

2. Strong expertise in operating and handling the distinct challenges of F&B in the operationally complex and highly secure airport environment.

3. Proven and established track record of long-term working relationships with airport operators.

4. Diversified portfolio of partner F&B brands franchised from high-quality brand partners and in-house F&B brands.

5. Deep understanding of traveller preferences with a focus on delivering a quality customer experience.

6. Experienced management team, supported by our synergistic partnerships with SSP and K Hospitality.

Risks Involved

1. Revenue from its Travel QSRs and Lounges situated in airports contributed 95.55%, 95.88% and 95.77% of the company revenue from operations for Fiscals 2025, 2024 and 2023, respectively. The company is highly dependent on its concession agreements for the company business operations and inability to renew existing concession agreements or any adverse changes in the terms therein, early termination, or any inability to obtain new concessions could adversely affect its business and results of operations.

2. The Travel QSRs and Lounges at the top 5 airports contributed 85.94%, 88.36% and 90.29% of its revenue from operations for Fiscals 2025, 2024 and 2023, respectively. Termination of the company concession agreements in relation to or a decrease in passenger traffic in such airports could have a significant impact on its revenue.

3. The company depends on its relationship with our brand partners to franchise their brands, with revenue from brand partners accounting for 54.37%, 54.44% and 54.06% of its revenue from Travel QSR for Fiscals 2025, 2024 and 2023, respectively. Failures to attract new brand partners or maintain or develop existing ones could adversely affect its business, results of operations, financial condition and prospects.

4. The success of its Lounge business is dependent on the company long-term relationship with its Lounge Partners, comprising domestic and international airlines, card issuers and networks, loyalty partner programmes, Lounge access programmes and financial institutions. Revenue from Lounge services amounted to 44.93%, 44.65% and 46.14% of its revenue from operations for Fiscals 2025, 2024 and 2023, respectively. The company business may be negatively impacted if the company is unable to retain its existing Lounge Partners or attract new ones.

5. Its business growth may be adversely affected by shifts in the operating models of its airport operators, which may reduce the company share of profit derived from the relevant concession agreements with such airport operators.

6. The company is subject to extensive regulations, particularly relating to airport and highway operations, security, food health and safety and environmental matters. Any non-compliance with or changes in regulations applicable to us may adversely affect its business, results of operations, cash flows and financial condition.

7. Lounge services contributed 44.93%, 44.65% and 46.14% of its revenue from operations for Fiscals 2025, 2024 and 2023, respectively. The company Lounge business may be adversely affected if there is a decrease in the number of its Lounge Partners' customers, whether due to a decrease in the number of credit cards and debit cards offering free Lounge access or from cards offering such services becoming less popular, or, in the converse, if there is a disproportionate increase in the number of such customers.

8. Its concession agreements impose restrictions and requirements on its operations, such as restrictions on the types of F&B and/or services that the company is obliged to provide, pricing benchmarks, minimum levels of capital expenditure that the company is required to undertake and the right of airport operators to relocate or suspend its operations, which could adversely affect the company business operations and failures to comply could result in termination of the agreements or financial penalties.

9. The Udaan Yatri Café provides airport travellers with basic menu items at more affordable prices, which may draw away some customers from its Travel QSR outlets and reduce sales at such outlets thereby adversely affecting the company business and financial results.

10. There are outstanding legal matters against the Company, certain of its Promoters, one of the company Subsidiaries, certain of its Directors and one of the members of the company Senior Management. Any adverse decision in such legal matters may render it or them liable to liabilities or penalties, which may adversely affect its business, cash flows and reputation.

Why should you invest in

-

Travel Food Services Ltd Financials

Particulars For the financial year ending (in ₹ million)
  2025 2024 2023
Total Assets 1902.73 1696.44 1332.32
Total Liabilities 1902.73 1696.44 1332.32
Total Expenses 1305.65 1146.72 824.21
Total Revenue 
1762.71 1462.4 1103.58
Profit After Tax 363.15 287.79 243.82
EBITDA 676.35 549.99 458.05
Adjusted EBITDA 0 0 0

Travel Food Services Limited IPO Contact Details

Travel Food Services Limited
Phone Number +91 22 4322 4322
Email Id cs@travelfoodservices.com
Address Block - A South Wing 1st Flr, Shiv Sagar Estate Dr.Annie B R, Mumbai, Maharashtra, 400018
Our Website www.travelfoodservices.com

Travel Food Services Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2025-07-14 544443 TRAVELFOOD
INE103V01028
₹1100 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹1100 ₹1100
Open ₹0 ₹0
Low ₹0 ₹0
High ₹0 ₹0
Low ₹0 ₹0

Industry Outlook of Travel Food Services IPO

  • As per the CRISIL Report, both domestic and international air passenger traffic in India are projected to witness steady growth from Fiscal 2025 to 2034.

  • Domestic air travel is estimated to grow at a compound annual growth rate (CAGR) of 8% to 9%.

  • International passenger traffic is expected to grow at a CAGR of 6% to 8% during the same period.

  • Increased dwell time at airports, the growth of low-cost carriers, and broader usage of credit card and loyalty programmes are key factors contributing to this trend.

  • The Travel Quick Service Restaurant (QSR) segment at Indian airports is likely to benefit from these developments.

  • This segment is projected to grow at a CAGR of 17% to 19% between Fiscal 2025 and 2034.

  • The Indian airport lounge sector is also expected to expand, with estimated growth at a CAGR of 22% to 24% during the same period
     

Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your IPO allotment status for Travel Food Services IPO.

Frequently Asked Questions

What is Travel Food Services Ltd IPO?

Answer Field

Travel Food Services Ltd IPO is a Mainboard IPO of 1,81,81,818 equity shares of a face value of ₹1 aggregating up to ₹2000 Crores. The issue is priced at ₹1100 to ₹1100 per share. The minimum order quantity is 13 Shares. The IPO opens on July 07, 2025, and closes on July 09, 2025. MUFG Intime India Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

When Travel Food Services Ltd IPO will open?

Answer Field

The Travel Food Services Ltd IPO opens on July 07, 2025 and closes on July 09, 2025.

What is the lot size of Travel Food Services Ltd?

Answer Field

Travel Food Services Ltd lot size is 13 shares, and the minimum amount required is ₹14,300.

How to apply for Travel Food Services Ltd IPO?

Answer Field

You can apply in Travel Food Services Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Travel Food Services Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Travel Food Services Ltd IPO will be done on July 10, 2025, and the allotted shares will be credited to your demat account by July 11, 2025.

When is Travel Food Services Ltd IPO listing date?

Answer Field

The Travel Food Services Ltd listing date is July 14, 2025.

Who is the registrar of Travel Food Services Ltd IPO?

Answer Field

The registrar of Travel Food Services Ltd IPO is MUFG Intime India Pvt Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

Kotak Mahindra Capital Company Ltd,HSBC Securities & Capital Markets (India) Pvt Ltd,ICICI Securities Ltd,Batlivala & Karani securities India Pvt Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of Travel Food Services Ltd IPO?

Answer Field

The fresh issue size is ₹[-] Crores equity shares.

What minimum lot size can retail subscribers subscribe to Travel Food Services Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 13 shares and ₹14,300 amount.

How can I approve the UPI mandate request for Travel Food Services Ltd IPO?

Answer Field

To apply for Travel Food Services Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Travel Food Services Ltd?

Answer Field

The price of each Travel Food Services Ltd share will be ranging in between ₹1100 to ₹1100 per share.

What is the cut-off time for the UPI mandate for Travel Food Services Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, July 09, 2025.

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