Travel Food Services shares slip below issue price after lackluster market debut 

Travel Food Services Limited shares turned negative on Monday, trading at ₹1,080.20 on the NSE as of 11.42 am, down 1.80 per cent from the issue price of ₹1,100. The stock had opened at ₹1,125 with a modest 2.27 per cent premium over the IPO price.

The airport food service provider’s shares listed at ₹1,126.20 on BSE and ₹1,125 on NSE, reflecting premiums of 2.38 per cent and 2.27 per cent, respectively. The listing performance matched grey market expectations, where unlisted shares were trading at around ₹1,125 prior to debut.

Heavy selling pressure emerged post-listing, with sell quantity reaching 8,50,783 shares against buy quantity of 1,35,964 shares. The stock hit a day’s high of ₹1,130 and low of ₹1,077.

The company’s IPO, priced at ₹1,045-1,100, was subscribed 2.88 times on the final day. Qualified institutional buyers showed strong interest with 7.70 times subscription, while retail investors subscribed only 0.69 times.

Travel Food Services operates quick service restaurants and lounges across 14 Indian airports, three in Malaysia and one in Hong Kong. The company holds approximately 26 per cent market share in India’s airport travel QSR sector and 45 per cent in the airport lounge segment.

The company reported revenue growth of 20.87 per cent to ₹1,687.74 crore in FY25, with profit rising 27.35 per cent to ₹379.66 crore. Kotak Mahindra Capital, HSBC Securities, ICICI Securities and Batlivala & Karani Securities were the book-running lead managers.

Published on July 14, 2025