Travel Food Services Lists At 2% Premium Over IPO Price

Travel Food Services Ltd. made its debut in the secondary market with a premium of 2% over its IPO price. The scrip was listed at Rs 1,125 apiece on the NSE and Rs 1,126 on the BSE. The issue price was Rs 1,100.

The company is a leading player in the travel QSR and lounge sectors in Indian airports. It launched its IPO for subscription from Monday, July 7, to Wednesday, July 9. The IPO consisted solely of an offer for sale (OFS) of shares valued at Rs 2,000 crore by the Kapur Family Trust.

Travel Food Services IPO received a decent response, particularly from Qualified Institutional Buyers (QIBs) who subscribed 7.7 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.