Travel Food Services Files for ₹2,000 Crore IPO; Market Leader in Airport QSR

No image 5paisa Capital Ltd - 1 min read

Last Updated: 11th December 2024 - 01:56 pm

Travel Food Services Ltd (TFS) has submitted draft papers to the Securities and Exchange Board of India (SEBI) to initiate an initial public offering (IPO) aiming to raise up to ₹2,000 crore. The IPO is structured as a pure offer-for-sale, with the Kapur Family Trust, which owns 51% of the company, divesting shares. SSP Asia Pacific Holdings holds the remaining 49%. 

The offering is managed by Kotak Mahindra Capital, HSBC Securities, ICICI Securities, and Batlivala & Karani Securities.

TFS is a prominent player in India’s airport travel quick-service restaurant (Travel QSR) and lounge markets. Its QSR operations cater to the needs of travelers by providing diverse food and beverage options focused on speed and convenience. 

 of June 30, 2024, TFS operated 397 Travel QSR outlets, including 335 at 14 Indian airports, 30 across two airports in Malaysia, and 32 along eight highways in India. Out of these, 340 outlets are directly managed by TFS and its subsidiaries, while 57 are operated through partnerships and joint ventures.

In the lounge segment, TFS provides premium airport spaces for first and business-class passengers, loyalty program members, and select cardholders. By June 30, 2024, the company operated 31 lounges in India and Malaysia, with an additional lounge inaugurated in Hong Kong in July 2024. TFS holds a 24% revenue market share in India’s airport Travel QSR sector and commands a 45% share of the airport lounge market as of fiscal 2024.

For fiscal year 2024, TFS reported revenue of ₹1,396.32 crore, reflecting growth from ₹1,067.15 crore in fiscal 2023. Net profit also increased to ₹298.02 crore, compared to ₹251.29 crore in the prior fiscal year.

Your IPO application is just a few clicks away.
Get the latest updates, expert analysis, and insights on upcoming IPOs.
  • FREE IPO Application
  • Apply with Ease
  • Pre-Apply for IPOs
  • UPI Bid Instantly
+91
''
By proceeding, you agree to our T&Cs*
Mobile No. belongs to
OR
hero_form

Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. For detailed disclaimer please Click here.

Open Free Demat Account

Be a part of 5paisa community - The first listed discount broker of India.

+91

By proceeding, you agree to all T&C*

footer_form

Verify Your Details

Apply IPO “Hassle Free” even without opening a Demat Account with 5Paisa.

Verify Your Details

Please enter valid email
Please enter valid PAN

We have sent an OTP on your mobile number .

Resend otp
Please enter valid otp

Krishca Strapping Solutions Limited

sme
  • Date Range 23 Oct- 27 Oct’23
  • Price 23
  • IPO Size 200