Travel Food Services Ltd IPO
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Travel Food Services Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 181.82 L | ₹ 181.82 L | ₹ 63.51 L | ₹ 1,316.79 L | BSE | ₹ 2000 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 07 Jul, 25 | 09 Jul, 25 | 13 | ₹ 13,585 | Book Building | 14 Jul, 25 |
Travel Food Services Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Hotels |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 3.24x | 9072727 | 29398278 |
| NII | 1.67x | 2721818 | 4536662 |
| Retail | 0.73x | 6350909 | 4627506 |
| Employee | 2.02x | 36364 | 73320 |
| Total | 2.12x | 18181818 | 38635766 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Travel Food Services Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 1,687.74 | 1,396.32 | 1,067.15 |
| EBITDA | 635.03 | 503.28 | 417.40 |
| PAT | 299.91 | 215.88 | 193.38 |
| Total Assets | 451.68 | 453.84 | 387.70 |
| Share Capital | 13.17 | 3.87 | 3.87 |
| Total Borrowings | 323.33 | 200.68 | 185.48 |
| Operating Activities (Net Cash) | 417.50 | 320.45 | 272.04 |
| Investing Activities (Net Cash) | 580.22 | 397.23 | 362.76 |
| Financing Activities (Net Cash) | 323.33 | 200.68 | 185.48 |
| Net Cashflow | 18.88 | 159.95 | 116.10 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Travel Food Services Ltd
Travel Food Services Limited was originally incorporated as Bombay Pure Foods Private Limited as a private company under the Companies Act, 1956, pursuant to a certificate of incorporation dated November 20, 2007, issued by the Registrar of Companies, Maharashtra at Mumbai (RoC). Thereafter, pursuant to a special resolution passed by its Shareholders on February 20, 2009, the name of the Company was changed from Bombay Pure Foods Private Limited to Travel Food Services Private Limited and a fresh certificate of incorporation was issued by the RoC on March 12, 2009. On the conversion of the Company from a private limited company to a public limited company, pursuant to a special resolution passed by its Shareholders on November 11, 2024, the name of the Company was changed from Travel Food Services Private Limited to Travel Food Services Limited and a fresh certificate of incorporation dated November 22, 2024 was issued by the Registrar of Companies, Central Processing Centre.
According to the CRISIL Report, on the demand side, India is expected to maintain a healthy growth momentum in domestic and international air passengers, with domestic air passenger traffic expected to achieve a CAGR of 8% to 9% and international air passenger traffic a CAGR of 6% to 8% from Fiscal 2025 to 2034. The Travel QSR and Lounge sectors at Indian airports are set to benefit from increased dwell time, the rise of low-cost carriers, and expanded credit card and loyalty programmes. The Indian airport Travel QSR sector is anticipated to grow at a CAGR of 17% to 19%, while the Indian Lounge industry is expected to grow at a CAGR of 22% to 24% from Fiscal 2025 to 2034.
The Company operates a travel quick service restaurant (Travel QSR) and a lounge (Lounge) business across airports in India, Malaysia and Hong Kong. It also have Travel QSR outlets at select highway sites in India. Its Travel QSR business comprises a range of curated F&B concepts tailored for customers' demands for speed and convenience within travel environments. As of March 31, 2025, its F&B brand portfolio includes 127 partner and in-house brands. The Company has partnered with various Lounge Partners to provide its customers with Lounge access.
Peer Comparison:
- Jubilant FoodWorks Limited
- Devyani International Limited
- Sapphire Foods India Limited
- Westlife Foodworld Limited
- Restaurant Brands Asia Limited
Travel Food Services Ltd IPO Key Points
Strengths
- Leading Player in the Travel QSR and Lounge sectors in Indian airports.
- Strong expertise in operating and handling the distinct challenges of F&B in the operationally complex and highly secure airport environment.
- Proven and established track record of long-term working relationships with airport operators.
- Diversified portfolio of partner F&B brands franchised from high-quality brand partners and in-house F&B brands.
- Deep understanding of traveller preferences with a focus on delivering a quality customer experience.
Risk
- Revenue from its Travel QSRs and Lounges situated in airports contributed 95.55%, 95.88% and 95.77% of the company revenue from operations for Fiscals 2025, 2024 and 2023, respectively. The company is highly dependent on its concession agreements for the company business operations and inability to renew existing concession agreements or any adverse changes in the terms therein, early termination, or any inability to obtain new concessions could adversely affect its business and results of operations.
- The Travel QSRs and Lounges at the top 5 airports contributed 85.94%, 88.36% and 90.29% of its revenue from operations for Fiscals 2025, 2024 and 2023, respectively. Termination of the company concession agreements in relation to or a decrease in passenger traffic in such airports could have a significant impact on its revenue.
- The company depends on its relationship with our brand partners to franchise their brands, with revenue from brand partners accounting for 54.37%, 54.44% and 54.06% of its revenue from Travel QSR for Fiscals 2025, 2024 and 2023, respectively. Failures to attract new brand partners or maintain or develop existing ones could adversely affect its business, results of operations, financial condition and prospects.
Strategy
- Optimise our product offerings and service to grow like-for-like (LFL) sales.
- Grow new space in existing markets and build strategic presence in new markets.
- Deliver operating synergies and leverage scale benefits.
- Optimise capital expenditure through best practices.
- Win with People.
- Leading Player in the Travel QSR and Lounge sectors in Indian airports.
- Strong expertise in operating and handling the distinct challenges of F&B in the operationally complex and highly secure airport environment.
- Proven and established track record of long-term working relationships with airport operators.
- Diversified portfolio of partner F&B brands franchised from high-quality brand partners and in-house F&B brands.
- Deep understanding of traveller preferences with a focus on delivering a quality customer experience.
How To Apply for Travel Food Services Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
