Last few hours left! Travel Food Services IPO closes today: Check GMP, IPO allotment, listing and other must-know details – IPO News

The Rs 2,000 crore mainboard IPO of Travel Food Services enters its final day today, July 9. As of the latest, the investor response has been lukewarm. With limited hours left to bid, let’s take a look at all the essential details from grey market trends and subscription figures to business highlights that you need to know before the window closes.

Travel Food Services IPO: Subscription so far

So far, on Day 3 of its bidding, that is the final day of its bidding, the IPO has seen only modest traction among investors.

As of the latest data on Day 3, the issue was subscribed 0.38 times in total. The retail portion stood at 0.37 times, the QIB portion at 0.41 times, and the NII segment also at 0.37 times.

In addition, even the employee quota managed just 0.73 times subscription.

The entire IPO is an Offer for Sale (OFS) by the Kapur Family Trust, with no fresh issue.

Travel Food Services IPO: Grey market premium

As per market chatter, the grey market premium (GMP) for Travel Food Services is hovering around Rs 8. This indicates a potential listing price of about Rs 1,108. This is just 0.7% below the upper price band of Rs 1,110.

However, it is also important to note that this is not the official listing price and may fluctuate based on the market sentiment.

Travel Food Services IPO: Anchor investors

Ahead of its IPO opening, Travel Food Services raised Rs 598.8 crore from anchor investors. The anchor list includes marquee names like ICICI Prudential MF, Abu Dhabi Investment Authority, Kotak MF, Axis MF, Fidelity, HDFC Life, and Tata AIA Life Insurance, among others.

Interestingly, over 43% of the anchor book went to seven domestic mutual funds through 15 different schemes.

Travel Food Services IPO: Price Band, allotment and key dates

The price band of the issue is set between the range of Rs 1,045 to Rs 1,100 per equity share.

After its bidding process, the allotment of shares is expected to be finalised on July 19 and the listing is scheduled on July 14.

The book running managers of this mainboard IPO is Kotak Mahindra Capital Company. On the other hand, MUFG Intime India Private Limited (Link Intime) is the registrar for the issue.

The IPO is being launched via the book-building process, with 50% of the net offer reserved for QIBs, 15% for NIIs, and 35% for retail investors.

What does Travel Food Services do?

Coming to the company profile, it is a key player in India’s airport-based food and beverage (F&B) and lounge business. Not that, it has expanded its footprint across 14 Indian airports, as well as in Malaysia and Hong Kong.

The company operates a mix of in-house and partner brands with 127 F&B concepts under its umbrella.

According to CRISIL, Travel Food Services holds around 26% market share in India’s airport QSR space and about 45% in the airport lounge segment.