Travel Food Services Limited (TFS), a leading player in India’s airport food and lounge services segment, is set to launch its Initial Public Offering (IPO) on Monday, July 7, 2025. The issue will remain open for subscription until Wednesday, July 9, 2025, with a price band fixed at INR 1,045 to INR 1,100 per equity share of face value INR 1 each.
The INR 2,000 crore IPO is entirely an Offer for Sale by the Kapur Family Trust, with a minimum bid lot of 13 equity shares and in multiples thereafter. Eligible employees applying under the reserved portion will receive a discount of INR 104 per share.
TFS operates quick-service restaurants (QSRs) and airport lounges across 14 Indian airports and select international airports in Malaysia and Hong Kong, along with QSRs on nine highways in India. As of March 2025, it manages a portfolio of 127 in-house and partner F&B brands, holding a 26% market share in India’s airport QSR segment and 45% in airport lounges, as per CRISIL.
Lead managers to the issue include Kotak Mahindra Capital, HSBC, ICICI Securities, and Batlivala & Karani, with MUFG Intime India as registrar.
