Travel Food Services IPO Description – Travel Food Services (TFS) is a leading provider of travel-focused hospitality solutions in India, specializing in quick-service restaurants (QSR) and premium airport lounges. Established to redefine travel dining, TFS has built a strong presence across 14 major Indian airports, select international locations, and key highway routes.
As of 31 March 2025, the company operated 442 Travel QSR outlets—270 directly and 172 through Associates and Joint Ventures—across airports in India and Malaysia, and highway sites in India. TFS has also emerged as a dominant player in the airport lounge segment, managing 37 lounges in India and Malaysia, and recently expanding to Hong Kong.
Its offerings blend convenience and quality, catering to the evolving needs of modern travelers seeking both speed and comfort. It commands a 24% market share in India’s airport QSR segment and 45% in airport lounges, underscoring its leadership. Backed by major financial institutions, TFS is well-positioned to capitalize on increasing air and road traffic.
Promoters of Travel Food Services – SSP Group PLC, SSP Group Holdings Limited, SSP Financing Limited, SSP Asia Pacific Holdings Limited, Kapur Family Trust, Varun Kapur, and Karan Kapur
Table of Contents
Travel Food Services IPO Details
| Travel Food Services IPO Dates | 7 – 9 July 2025 |
| Travel Food Services IPO Price | INR 1,045 – 1,100 per share |
| Employee Discount | INR 104 per share |
| Fresh issue | NIL |
| Offer For Sale | INR 2,000 crore |
| Total IPO size | INR 2,000 crore |
| Minimum bid (lot size) | 13 shares (INR 14,300) |
| Face Value | INR 1 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Travel Food Services Financial Performance
| FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 1,067.15 | 1,396.32 | 1,687.74 |
| Expenses | 824.21 | 1,146.72 | 1,305.65 |
| Net income | 251.30 | 298.02 | 379.66 |
| Margin (%) | 23.55 | 21.34 | 22.50 |
Travel Food Services Offer News
- Travel Food Services RHP
- Travel Food Services DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Travel Food Services Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 (Pre Issue) | FY 2025 (Post-Issue) | |
| EPS | 18.52 | 21.85 | 27.58 | 27.58 |
| PE Ratio | – | – | 37.89 – 39.88 | 37.89 – 39.88 |
| FY 2023 | FY 2024 | FY 2025 | |
| RONW (%) | 37.45 | 33.12 | 34.64 |
| NAV | 49.45 | 66.00 | 79.62 |
| ROCE (%) | 53.87 | 46.14 | 51.40 |
| EBITDA (%) | 42.92 | 39.39 | 40.07 |
Travel Food Services IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 12 July 2025 | 5 | – | 100 |
| 11 July 2025 | 5 | – | 100 |
| 10 July 2025 | 8 | – | 100 |
| 9 July 2025 | 12 | – | 100 |
| 8 July 2025 | 20 | – | 200 |
| 7 July 2025 | 45 | – | 400 |
| 5 July 2025 | 85 | – | 800 |
| 4 July 2025 | 90 | – | 1,000 |
| 3 July 2025 | 90 | – | 1,000 |
Travel Food Services IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Shares Offered | 38,20,095 | 28,65,072 | 66,85,168 | 42,507 | 1,34,12,842 |
| 9 Jul 2025 | 7.70 | 1.58 | 0.69 | 1.72 | 2.88 |
| 8 Jul 2025 | 0.18 | 0.24 | 0.28 | 0.73 | 0.25 |
| 7 Jul 2025 | 0.07 | 0.06 | 0.14 | 0.37 | 0.10 |
54,43,635 shares allotted to anchor investors are not included in these calculations.
Travel Food Services – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Travel Food Services | 39.88 | 27.58 | 34.64 | 79.62 | 1,396.32 |
| Jubilant FoodWorks | 205.81 | 3.41 | 10.02 | 31.87 | 5,654.09 |
| Devyani International | 2,097.13 | 0.08 | 0.84 | 9.07 | 3,556.30 |
| Sapphire Foods India | 548.00 | 0.60 | 1.38 | 45.53 | 2,594.28 |
Travel Food Services IPO Allotment Status
Travel Food Services IPO allotment status is now available on MUFG Intime’s website. Click on the MUFG Intime IPO weblink to get allotment status.
Travel Food Services IPO Dates & Listing Performance
| IPO Opening Date | 7 July 2025 |
| IPO Closing Date | 9 July 2025 |
| Finalization of Basis of Allotment | 10 July 2025 |
| Initiation of refunds | 11 July 2025 |
| Transfer of shares to demat accounts | 11 July 2025 |
| Travel Food Services IPO Listing Date | 14 July 2025 |
| Opening Price on NSE | INR 1,125 per share (up 2.27%) |
| Closing Price on NSE | Coming soon |
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Travel Food Services Offer Lead Manager
KOTAK MAHINDRA CAPITAL COMPANY LIMITED
27 BKC, 1st Floor, Plot no. C-27,
‘G’ Block, Bandra Kurla Complex,
Bandra (East), Mumbai 400 051
Phone: +91 22 4336 0000
Email: [email protected]
Website: www.investmentbank.kotak.com
Travel Food Services Offer Registrar
MUFG INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: [email protected]
Website: www.in.mpms.mufg.com
Travel Food Services Contact Details
TRAVEL FOOD SERVICES LIMITED
Block-A South Wing 1st Floor, Shiv Sagar Estate,
Dr. Annie Besant Road, Worli, Mumbai 400 018, Maharashtra
Phone: +91 22 4322 4322
Email: [email protected]
Website: www.travelfoodservices.com
Travel Food Services IPO FAQs
How many shares in Travel Food Services IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for Travel Food Services Public Offer?
The best way to apply for Travel Food Services public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Travel Food Services IPO GMP today?
Travel Food Services IPO GMP today is INR 5 per share.
What is Travel Food Services’ kostak rate today?
Travel Food Services kostak rate today is INR NA per application.
What is Travel Food Services Subject to Sauda rate today?
Travel Food Services Subject to Sauda rate today is INR 100 per application.