Travel Food Services Limited IPO

Travel Food Service Limited (TFS), a travel QSR and lounge business brand, is coming with its initial public offering (IPO) to make its debut in the primary market. Travel Food Service Limited IPO has a price range of ₹1,045 to ₹1,100 per share, with a face value of ₹1 per share. The opening date of the IPO is going to be 7th July 2025 while closing on 9th July 2025. The IPO's offering size is ₹2,000 crore, which comprises the promoter, Kapur Family Trust, making an offer for sale (OFS). There is no fresh equity offer means there are no proceeds to be used by the company. The IPO has a lot size of 13 shares that requires a retail investor to invest approximately ₹14,300 at the upper price band to be a part of this IPO.

Company Background

Travel Food Service Limited was incorporated in 2007 with its headquarters in Mumbai. In the Indian travel food and beverage (F&B) industry, TFS is a major player, particularly in airport settings. The company launched its travel service restaurant (QSR) model back in 2009 and since then has been expanding its presence to major airports throughout the country and in Malaysia.

Operations & Product Range

Facility & Production

TFS has a diverse portfolio of 397 quick-service restaurants (QSRs) and lounges spread over 14 Indian airports (including Mumbai, Delhi, Bengaluru, Hyderabad and Chennai) along with some selected locations in Malaysia as of June 30, 2024. All the restaurants are designed to serve the unique needs of travelers with a focus on speed and convenience.

Brands & Market Presence

The company’s F&B brand portfolio includes 117 partners and in-house brands, offering a wide range of cuisines and formats—bakeries, cafes, bars and multi-cuisine outlets. TFS also manages premium airport lounges, accessible to loyalty program members, business/first-class passengers and select cardholders, further strengthening its presence in the travel hospitality sector.

Revenue Channels

TFS generates revenue primarily through:

• Airport QSRs: Operating branded and in-house food outlets at airports.
• Airport Lounges: Managing exclusive lounges with food, beverage and hospitality services.
• Highway Outlets: Select food service locations on highways.
• Partnerships: Collaborating with global and domestic F&B brands for co-branded outlets.

Management & Shareholding

Promoters & Shareholding

The current promoters of the company include Kapur Family Trust and SSP Asia Pacific Holdings Limited. Promoters are holding 100% equity shares of the company before the IPO and this IPO is an OFS being done by the Kapur Family Trust.

Board Members

Among the company board members are Varun Kapur and Karan Kapur from the Kapur family, along with representatives from the SSP Group and its affiliates.