Travel Food Services Limited

Travel Food Services Limited, incorporated in 2007, is India's leading operator of travel quick service restaurants and airport lounges. The company runs a portfolio of more than 100 food and beverage brands, both owned and franchised, across roughly 400 outlets located primarily inside airports in India and Malaysia, alongside a network of premium airport lounges. The business holds a leading share of the Indian travel QSR and airport lounge markets, with most of its outlets located inside secure, high-footfall airport terminals across major Indian cities including Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata and Chennai. Its promoter group includes UK-based SSP Group, a global travel food and beverage operator, alongside the Indian Kapur family, combining international brand and operating expertise with local market knowledge. Revenue and profit have grown steadily over the past several years as airport passenger traffic has recovered and expanded, and the company has maintained a debt-light balance sheet with a large cash position. Its business remains closely tied to air travel volumes and airport footfall, and this IPO was structured entirely as an offer for sale by existing shareholders, so the company itself did not receive any proceeds.

Travel Food Services raised about Rs 599 crore from anchor investors at the IPO cap price of Rs 1,100 per share, close to 30 percent of the total issue. The anchor book included investors such as ICICI Prudential Mutual Fund, Axis Mutual Fund, Kotak Mutual Fund, Baroda BNP Paribas Mutual Fund, the Abu Dhabi Investment Authority, Fidelity and the Government Pension Fund Global.