Travel Food Services IPO Subscribed 2.88 Times On Final Day; Details Here

Travel Food Services, operating a travel quick-service restaurant and a lounge business across airports in India and Malaysia, on Friday raised nearly Rs 600 crore from anchor investors

The IPO has a price band of Rs 1,045-1,100 per share

Source : ABPLIVE AI

The initial public offer of Travel Food Services Ltd got subscribed 2.88 times on the closing day of bidding on Wednesday.

The initial share sale received bids for 3,86,35,064 shares against 1,34,12,842 shares on offer, as per NSE data.

Qualified Institutional Buyers (QIBs) part fetched 7.70 times subscription while the category for non-institutional investors received 1.58 times subscription. Retail Individual Investors (RIIs) quota got subscribed 69 per cent.

Travel Food Services, operating a travel quick-service restaurant and a lounge business across airports in India and Malaysia, on Friday raised nearly Rs 600 crore from anchor investors.

The IPO has a price band of Rs 1,045-1,100 per share.

The initial share sale is entirely an offer for sale (OFS) of shares worth Rs 2,000 crore by promoter Kapur Family Trust.

Since the IPO is entirely an OFS, the company will not receive any funds from the issue, and the proceeds will go to the selling shareholder.

Travel Food Services launched its first travel quick-service restaurant (QSR) outlet in 2009. It is promoted by SSP Group plc (SSP) and its affiliates SSP Group Holdings Ltd, SSP Financing Ltd, SSP Asia Pacific Holdings Ltd, along with the Kapur Family Trust, Varun Kapur and Karan Kapur.

Headquartered in Mumbai, Travel Food Services' portfolio features a diverse selection of food and beverage (F&B) concepts, including fast food, cafes, bakeries, food courts and bars, primarily located in airports and some highway locations.

Kotak Mahindra Capital Company, HSBC Securities and Capital Markets (India) Pvt Ltd, ICICI Securities and Batlivala & Karani Securities India are the book-running lead managers to the issue.

The equity shares are proposed to be listed on the NSE and BSE.

(This report has been published as part of the auto generated syndicate wire feed.Apart from the headline,no editing has been done in the copy by ABP Live.)