Travel Food Services Limited is set to launch its Initial Public Offering (IPO) next week, having already secured a significant investment of Rs 600 crore from anchor investors.
Ready for Takeoff: IPO Details Unveiled
The highly anticipated initial public offering for Travel Food Services Limited will open for public subscription next week. Investors can subscribe to the IPO from July 7 to July 9.
This offering is structured entirely as an Offer for Sale (OFS), with shares worth Rs 2,000 crore being sold by the promoter, Kapur Family Trust. There are also specific reservations for eligible employees to participate in the subscription.
Major Investors Board Early
Even before opening to the public, Travel Food Services Limited has successfully raised nearly Rs 600 crore from a group of anchor investors. This strong early interest highlights confidence in the company’s prospects.
Notable anchor investors include major financial institutions such as ICICI Prudential Mutual Fund, Axis Mutual Fund, Kotak Mutual Fund, and Baroda BNP Paribas Mutual Fund. International investors like Abu Dhabi Investment Authority, Fidelity, and Government Pension Fund Global have also committed funds.
Pricing and Key Dates to Remember
The price band for Travel Food Services IPO has been set between Rs 1,045 and Rs 1,100 per share. Each share carries a face value and tick size of Re 1.
Investors can mark their calendars for the allotment date, which is slated for July 10. Following this, the shares are expected to be listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) around July 14.
Behind the Scenes: The IPO Team
MUFG Intime India Private Limited has been appointed as the registrar for this IPO, handling all the administrative aspects. A strong team of financial institutions is supporting the offering.
The book running lead managers include Kotak Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, and Batlivala and Karani Securities India Private Limited. Kotak Mahindra Bank Limited and ICICI Bank Limited are serving as the sponsor banks for the IPO.
Meet Travel Food Services
Travel Food Services launched its first quick-service restaurant (QSR) outlet for travelers back in 2009. The company is promoted by SSP Group plc, along with its affiliates SSP Group Holdings Ltd, SSP Financing Ltd, SSP Asia Pacific Holdings Ltd, and members of the Kapur Family Trust including Varun Kapur and Karan Kapur.
- The Travel Food Services IPO opens for subscription from July 7 to July 9.
- It’s an Offer for Sale (OFS) worth Rs 2,000 crore from the Kapur Family Trust.
- The company has already secured Rs 600 crore from anchor investors.
- The price band is set between Rs 1,045 and Rs 1,100 per share.
- Shares are expected to list on July 14 on NSE and BSE.
This IPO marks a significant step for Travel Food Services as it seeks to expand its footprint in the travel food sector.
