Travel Food Services IPO Listing On July 14: What GMP Indicates Ahead Of Debut

The mainboard initial public offering (IPO) of airport travel quick service restaurant Travel Food Services is scheduled for tomorrow, July 14. The leading player in the travel QSR and lounge sectors in Indian airports launched its IPO for subscription from Monday, July 7, to Wednesday, July 9.

Travel Food Services IPO received a decent response, particularly from Qualified Institutional Buyers (QIBs) who subscribed 7.70 times, followed by non-institutional investors (NIIs) at 1.58 times. Retail investors' quota had a subscription rate of 69%. By the end of the third day, the Travel Food Services IPO subscription status stood at 2.88 times. The initial share sale received bids for 3,86,35,064 shares against 1,34,12,842 shares on offer.

Travel Food Services IPO GMP or grey market premium is +25. This indicates Travel Food Services' share price was trading at a premium of Rs 25 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Travel Food Services share price was indicated at Rs 1,125 apiece, which is 2.27% higher than the IPO price of Rs 1,100.

According to the grey market activities observed over the last few sessions, the present GMP indicates a tendency towards a decline. The minimum GMP recorded was Re 0.00, while the maximum GMP reached Rs 92, as noted by experts at investorgain.com.

Note: GMP is not an official source of data and is based on speculation

Travel Food Services IPO price band was fixed in the range of Rs 1,045 to Rs 1,100 per equity share of the face value of Re 1. Travel Food Services IPO lot size was 13 equity shares and in multiples of 13 equity shares thereafter. The IPO consisted solely of an offer for sale (OFS) of shares valued at Rs 2,000 crore by the Kapur Family Trust. The book-running lead managers for the issue include Kotak Mahindra Capital Company, HSBC Securities and Capital Markets (India) Pvt Ltd, ICICI Securities, and Batlivala & Karani Securities India.