Travel Food Services IPO gets subscribed 16% so far on Day 2 of offer; check GMP

Travel Food Services IPO gets subscribed 16pc so far on Day 2 of offer.

Travel Food Services initial public offer (IPO) got subscribed 16 percent so far on the second day of bidding on July 8. The IPO received bids for 21.30 lakh shares against 1.34 crore shares on offer, according to NSE data at 12:30 p.m.

The Retail Individual Investors’ portion was booked 22 percent while the quota for Qualified Institutional Buyers (QIBs) got subscribed by 7 percent. Non-Institutional Investors portion received 14 percent subscription.

The initial public offering (IPO), with a price band of Rs 1,045 to Rs 1,100 per share, will conclude on July 9. The IPO is entirely an offer for sale (OFS) of shares worth Rs 2,000 crore by promoter Kapur Family Trust.

Headquartered in Mumbai, Travel Food Services' portfolio features a diverse selection of food and beverage (F&B) concepts, including fast food, cafes, bakeries, food courts and bars, primarily located in airports and some highway locations.

Check All IPO News

Travel Food Services IPO GMP

According to websites tracking the grey market activities, the shares of Travel Food Services are commanding a GMP of about 1 percent in the unregulated market. Investorgain quoted a GMP of Rs 16 for the shares of the company, indicating a listing gain of 1.45 percent.

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 equity shares of the mainboard issue are proposed to be listed on the NSE and BSE on July 14, while the allotment is expected on July 10.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.