Following the finalisation of allotment of Travel Food Services IPO, investor focus has shifted to the company’s stock market debut. Travel Food Services’ IPO listing date has been scheduled for Monday, July 14. For those who have been allocated shares, they will be credited to demat accounts today, Friday, July 11. The process of refunding those who have not yet received their shares will likewise be finished today.
The company launched its IPO for subscription from Monday, July 7, to Wednesday, July 9. By the conclusion of the bidding period, the offering received a healthy response, particularly from Qualified Institutional Buyers (QIBs) who subscribed 7.70 times, followed by non-institutional investors (NIIs) at 1.58 times. Retail investors showed a subscription rate of 69%. Notably, on the third day of the IPO, the Travel Food Services IPO subscription status stood at 2.88 times, as reported by the BSE.
Travel Food Services IPO reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Travel Food Services Limited is a quick-service restaurant (Travel QSR) and lounge provider at airports in India. As of June 30, 2024, the company manages 397 Travel QSRs across India and Malaysia, offering a selection of 117 partner and proprietary food and beverage brands.
Travel Food Services IPO GMP today
Let’s check what Travel Food Services IPO GMP today signals ahead of listing.
Travel Food Services IPO GMP today or Travel Food Services IPO grey market premium is +40. This indicates Travel Food Services’ share price was trading at a premium of ₹40 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Travel Food Services share price was indicated at ₹1,140 apiece, which is 3.64% higher than the IPO price of ₹1,100.
According to the grey market activities observed over the last 16 sessions, the present GMP ( ₹40) indicates a tendency towards a decline. The minimum GMP recorded was ₹0.00, while the maximum GMP reached ₹92, as noted by experts at investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Travel Food Services IPO details
Travel Food Services IPO price band was fixed in the range of ₹1,045 to ₹1,100 per equity share of the face value of Re 1. Travel Food Services IPO lot size was 13 equity shares and in multiples of 13 equity shares thereafter. The initial public offering consisted solely of an offer for sale (OFS) of shares valued at ₹2,000 crore by the Kapur Family Trust.
As this IPO was entirely an OFS, the company will not obtain any funds from this issuance; instead, the proceeds will be directed to the selling shareholder.
Travel Food Services inaugurated its first travel quick-service restaurant (QSR) outlet in 2009.
It is backed by SSP Group plc (SSP) and its associated entities, including SSP Group Holdings Ltd, SSP Financing Ltd, SSP Asia Pacific Holdings Ltd, along with the Kapur Family Trust, Varun Kapur, and Karan Kapur.
The book-running lead managers for the issue include Kotak Mahindra Capital Company, HSBC Securities and Capital Markets (India) Pvt Ltd, ICICI Securities, and Batlivala & Karani Securities India.
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