Travel Food Services IPO Subscribed 5% On Day 1 So Far — Check GMP

The initial public offering of Travel Food Services Ltd. opened on July 7 and will close on July 9. The price band for the IPO is set at Rs 1,045 to Rs 1,100 per share.

Travel Food Services IPO is entirely an offer for sale worth up to Rs 2,000 crore, with no fresh issue component. The face value of each share is Re 1. Investors can bid for a minimum of 13 shares, and then in multiples thereof. The promoter off-loading their stake is Kapur Family Trust.

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

The company has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India to raise up to Rs 2,000 crore through an initial public offering.

• Issue opens: July 7.

• Issue closes: July 9.

• Anchor investor bidding: July 4.

• Issue price band: Rs 1,045 to Rs 1,100. 

• Lot size: Minimum 13 shares and in multiples thereafter.

• Total issue size: Rs 2,000 crore (1,81,81,818 shares).

• Type: Offer for sale.

• Tentative listing date: July 14.

The issue has been subscribed 0.05 times or 5% as of 11:57 a.m.

• Qualified institutional buyers: Nil

• Non-institutional buyers: 0.03 times or 3%

• Retail investors: 0.08 times or 8%

• Portion reserved for employees: 0.24 times or 25%

The grey market premium for Travel Food Services IPO stood at Rs 30, as of 10:33 a.m. on July 7, according to InvestorGain. That implies listing at a premium.

GMP or grey market price is not an official indicator and is based on market speculation.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.