Listed

Travel Food Services Limited IPO

Travel Food Services Limited is a leading operator in India’s travel food and beverage sector, primarily serving passengers at airports, highways, and transit hubs. The company manages a wide portfolio of food outlets, cafés, and lounges under both international franchises and its own in-house brands. With nearly 400 outlets across 14 Indian airports and several overseas locations, it offers quick-service and casual dining options tailored to the travel environment.

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Min Investment

₹13,585

Lot Size

13 Shares

Price Range

₹1100

Issue Size (₹ Cr.)

₹2,000.0

IPO Type

BSE NSE

Key Metrics

Face Value

₹ 1

GMP

₹ 25.0

Subscription

3.03x

EPS

₹ 22.63

P/E Ratio

48.6 x

RoNW

34.64%

ROE

35.47%

Debt to Equity (₹ Cr.)

0.08

Timeline

IPO Opened03/07/2025Thursday

IPO Closed07/07/2025Monday

Allotted08/07/2025Tuesday

Refunded09/07/2025Wednesday

Listed10/07/2025Thursday

Strengths

Market Leadership at Airports The company is a leading operator in India’s airport food and beverage space, with a dominant presence in both quick-service restaurants and lounge management.
Diverse Brand Portfolio Travel Food Services operates a wide mix of international, national, and in-house brands across airports and highways, offering varied dining experiences for travelers.
Strong Strategic Partnerships Backed by global hospitality major SSP Group and K Hospitality Corp, the company benefits from industry expertise and global best practices in food retail and operations.
Widespread Operational Network With nearly 400 outlets across India and parts of Southeast Asia, the company has a scalable and geographically diverse footprint in high-traffic transit locations.
Robust Financial Growth The company has demonstrated consistent growth in revenue and profitability, supported by rising air passenger volumes and strong contract retention with airport authorities.

Weaknesses

Heavy Dependence on Airport Footfall The company’s revenue is closely tied to passenger traffic at airports. Any disruption in travel due to economic, political, or health-related events can significantly affect business.
High Operational Costs Running outlets in airports involves elevated rental expenses, license fees, and overheads, which can reduce profitability during slow travel seasons.
Limited Diversification Beyond Transit Zones A majority of operations are based in transit locations like airports and highways, which may limit customer engagement outside of these zones.
Intense Competitive Environment The airport food services sector is highly competitive, with domestic and global brands competing for limited space and visibility, often leading to price and margin pressure.
Quality and Service Consistency Risks With a large number of outlets across various cities and countries, maintaining consistent service quality and hygiene standards can be operationally challenging.