Travel Food Services IPO: Travel Food Services, a company that operates travel quick service restaurants (QSR) and airport lounges, has submitted documents (DRHP) with SEBI to launch an IPO. According to the documents submitted with SEBI, Travel Food Services wants to raise Rs 2000 crore from its IPO. This Mumbai based company is performing brilliantly in the QSR and lounge sector in the rapidly growing aviation market. According to a CRISIL report, travel food services have generated the highest revenue in this sector in the financial year 2024.
The company opened its first travel quick service restaurant in 2009.
Travel Food Services opened its first travel quick service restaurant in 2009. SSP Group PLC and its subsidiaries SSP Group Holdings Limited, SSP Financing Limited, SSP Asia Pacific Holdings Limited along with Kapoor Family Trust, Varun Kapoor and Karan Kapoor are the key promoters of Travel Food Services. Travel Food Services was offering its services at 14 airports across the country till June 30, 2024. These include major cities like Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata and Chennai. Along with this, this Mumbai based company is also providing services at 3 airports in Malaysia.
IPO of travel food service will be completely OFS based
The IPO of Travel Food Services will be completely OFS based, that is, no new shares will be issued in it. Rather, the promoters of the company will issue all the shares through OFS. According to the documents, the company’s promoter Kapoor Family Trust will issue shares worth Rs 2000 crore. The face value of shares offered to investors under the IPO will be Rs 1. Under the IPO, 50 percent shares will be reserved for QIB category investors, 15 percent for NII category investors and 35 percent for retail investors.
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