Travel Food Services Ltd IPO

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.

Open Demat Account

50years

Travel Food Services Ltd IPO Details

Details

Total Shares OfferedOffer to PublicRetail Max (Shares)Pre Issue Promoters HoldingExchangeIssue size
₹ 181.82 L₹ 181.82 L₹ 63.51 L₹ 1,316.79 LBSE₹ 2000 Cr
IPO Open DateClose DateLot SizeMin InvestmentIssue TypeListing Date
07 Jul, 2509 Jul, 2513 ₹ 13,585 Book Building14 Jul, 25

Travel Food Services Ltd IPO Dates

  • 07 Jul 2025

    Opening date

  • 09 Jul 2025

    Closing date

  • 10 Jul 2025

    Basis of
    Allotment

  • 11 Jul 2025

    Initiation of
    Refunds

  • 11 Jul 2025

    Credit of
    Shares

  • 14 Jul 2025

    Listing date

Details

SectorType
SectorHotels
Sub SectorNA
Issue TypeBook Building

Subscription Status

*Values are in Lakhs

Investor TypeSubscription TimesShares Offered*Shares Bid*
QIB0x90727270
NII0x27218180
Retail0x63509090
Employee0x363640
Total0x181818180

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)FY23FY22FY21
Revenue from operations1,396.321,067.15389.61
EBITDA503.18417.403.09
PAT215.78193.38-8.48
Total Assets397.28387.7038.44
Share Capital3.873.873.87
Total Borrowings201.22185.4824.58
Operating Activities (Net Cash)320.35272.04-3.41
Investing Activities (Net Cash)397.23362.7686.27
Financing Activities (Net Cash)201.22185.4824.58
Net Cashflow102.84116.101.19

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.

Get your FAQs right

Travel Food Services Ltd's IPO offers shares for up to NA It begins on Jul 7, 2025 and ends on Jul 9, 2025.

The price of Travel Food Services Ltd IPO ranges between ₹1045 to ₹1100 per share.

The Travel Food Services Ltd IPO opens on Jul 7, 2025 and closes on Jul 9, 2025.

The allotment for the Travel Food Services Ltd IPO will be finalised on Jul 10, 2025. The shares will be listed on BSE and NSE on Jul 14, 2025.

The minimum lot size for Travel Food Services Ltd IPO is 13 shares, priced between ₹1045 to ₹1100 per share.

The GMP (Grey Market Premium) of Travel Food Services Ltd IPO fluctuates based on market demand and sentiment.

To check the allotment status of Travel Food Services Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

The Travel Food Services Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Jul 7, 2025, and closes on Jul 9, 2025. The allotment is finalised on Jul 10, 2025.

To apply for the Travel Food Services Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.