India-based Travel Food Services’ IPO was subscribed 16% by July 8, 2025, the second day of bidding. Retail participation led at 22%, while institutional interest remained moderate. The ₹2,000 crore issue is entirely an Offer for Sale by Kapur Family Trust. Shares are expected to list on July 14.
Travel Food Services, a Mumbai-based operator of food and beverage outlets in airports and highways, has seen a 16% subscription rate for its Initial Public Offering (IPO) by the second day of bidding, as per data from the National Stock Exchange (NSE) released at 12:30 p.m.
The IPO, which opened on July 7 and is set to close on July 9, 2025, has received bids for 21.30 lakh equity shares out of the 1.34 crore shares available. The offering is priced in the range of ₹1,045 to ₹1,100 per share and is entirely an Offer for Sale (OFS) of shares worth ₹2,000 crore by the Kapur Family Trust.
The Bombay Stock Exchange (BSE) and NSE are set to list Travel Food Services shares on July 14, while allotment is scheduled for July 10.
The Retail Individual Investors (RIIs) segment led participation with a 22% subscription, while Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) saw more muted interest at 7% and 14% respectively.
Travel Food Services, a leader in India’s travel retail F&B industry, operates a wide portfolio of brands, including quick-service restaurants, cafés, bakeries, bars, and food courts. These outlets are primarily located in high-footfall travel hubs like airports and select highway rest areas.
The IPO comes amid growing investor interest in consumer-facing businesses with high exposure to India’s expanding domestic travel and tourism sectors.