Travel Food Services Makes Muted Debut on Bourses; Lists at 2% Premium Over IPO Price

Mumbai-based airport quick service restaurant (QSR) and lounge operator Travel Food Services made a muted stock market debut today! From the issue price of ₹1100, the shares listed at ₹1125, a mere 2% premium. 

Travel Food Services IPO was a pure OFS (Offer For Sale) of ₹2,000.00 crores by its promoter, Kapur Family Trust; no new equity issued. Shares were priced at ₹1,100 each. 

The IPO received muted response from all investor categories. Qualified Institutional Buyers(QIBs) subscribed the most with 7.70x, followed by Non Institutional Investors 1.58x, Retail Individual Investors(RIIs) 0.69x, and employees 1.72x. 

Kotak Mahindra Capital Company Limited served as the book-running lead manager, while MUFG Intime India Private Limited (Link Intime) is the registrar for the IPO.

As the issue is OFS (Offer For Sale), the company will not receive any proceeds from the IPO.  

Travel Food Services operates 442 Travel QSR outlets across India and Malaysia. Through their lounge business, they provide exclusive, well-appointed spaces within airport terminals and cater mainly to premium-class passengers, loyalty program members, and select credit and debit cardholders. 

Company’s revenue from operations increased by 20.87%, reaching ₹1,687.74 crore in Fiscal 2025, up from ₹1,396.32 crore in Fiscal 2024.

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