Travel Food Services to launch ₹2,000cr IPO next week
What's the story
Travel Food Services Limited, which operates India's largest network of travel quick-service restaurants (QSRs) and airport lounges, will open its initial public offering (IPO) for public subscription on July 7. The three-day offer will close on July 9. The entire IPO is an offer for sale (OFS) of shares worth ₹2,000 crore by the Kapur Family Trust. There are also reservations for eligible employees in this offer.
Funding details
Nearly ₹600 crore raised from anchors
Ahead of its IPO, Travel Food Services Limited has raised nearly ₹600 crore from anchor investors. According to a circular uploaded on BSE's website, the list includes ICICI Prudential Mutual Fund (MF), Axis MF, Kotak MF, Baroda BNP Paribas MF, and Abu Dhabi Investment Authority, among others. The company has set a price band of ₹1,045 to ₹1,100 per share for its upcoming IPO.
Operational details
IPO details: Face value, allotment date, listing date
MUFG Intime India Private Limited will be the registrar for the Travel Food Services IPO. The face value and tick size of the IPO is ₹1 each. The allotment of shares is expected to be finalized on July 10, with a listing date on the National Stock Exchange (NSE) and BSE likely on July 14.
Information
India's largest travel QSRs and airport lounges network
Travel Food Services Limited has a total of 413 outlets, out of which 384 are at airports. It also operates 31 lounges in India and Malaysia, having expanded internationally by opening a new lounge in Hong Kong.