Travel Food Services Ltd. raised Rs 599 crore from anchor investors on Friday ahead of its initial public offering. The company allotted 54.43 lakh shares at Rs 1,100 apiece to 33 anchor investors.
ICICI Prudential Flexicap Fund got the highest allocation of 8.92%. Abu Dhabi Investment Authority- Monsoon and Government Pension Fund Global, Kotak Small Cap Fund got the second highest allotment of 8.85%. Fidelity Advisor Series VIII- Fidelity Advisor Emerging Asia Fund got 6.20% stake each in the company.
Seven domestic mutual funds have applied through 15 schemes. ICICI Prudential, Axis Mutual Fund, Kotak and Whiteoak were among the fund houses in this category, the airport travel QSR said in an exchange filing.
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.
The company plans to offer equity shares with a face value of Re 1 each, aggregating up to Rs 2,000 crore, through a pure Offer for Sale. The Promoter, Kapur Family Trust, will sell shares in the offering.
The Kapur Family Trust currently holds a 51% stake in the company, while SSP Asia Pacific Holdings owns the remaining 49%.
The company's travel quick-service restaurant and lounge businesses span 14 airports in India and three airports in Malaysia. Of the 14 airports in India, 13 rank among the country's top 15 largest airports by passenger traffic in Fiscal 2024. These include major airports such as Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, and Chennai, as mentioned in company's DRHP.
Kotak Mahindra Capital, HSBC Securities, ICICI Securities, and Batlivala & Karani Securities are the lead book running managers for the issue.
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