Travel Food Services IPO subscribed nearly 3 times on final day of IPO; Check GMP, other key details

Travel Food Services IPO

Travel Food Services initial public offer (IPO) got subscribed 2.88 times on the final day bidding on July 9.

The initial share sale received bids for 3.86 crore shares against 1.34 crore shares on offer, according to data available with the NSE.

The quota for Retail Individual Investors (RIIs) attracted 69 percent subscription, while the non-institutional investor part got subscribed 1.58 times percent. The Qualified Institutional Buyers (QIBs) portion received 7.70 times subscription.

Travel Food Services, operating a travel quick-service restaurant and a lounge business across airports in India and Malaysia, on Friday raised nearly Rs 600 crore from anchor investors. The IPO has a price band of Rs 1,045-1,100 per share.

Travel Food Services launched its first travel quick-service restaurant (QSR) outlet in 2009. It is promoted by SSP Group plc (SSP) and its affiliates SSP Group Holdings Ltd, SSP Financing Ltd, SSP Asia Pacific Holdings Ltd, along with the Kapur Family Trust, Varun Kapur and Karan Kapur.

According to websites tracking the grey market activities, the shares of the company are commanding a flat GMP in the unregulated market.

Shares of the company are proposed to be listed on the NSE and BSE on July 14, while the allotment is expected to take place on July 10.