Travel Food Services Makes Strong Market Debut, Shares List Over 2% Above IPO Price
Travel Food Services shares listed over 2 percent higher than the IPO price of Rs 1,100 on debut. Backed by SSP Group, the company’s Rs 14,222 crore valuation reflects strong investor response with 2.88x subscription.
Travel Food Services shares climb over 2 pc in market debut trade . |
New Delhi: Shares of Travel Food Services Ltd on Monday listed with a premium of over 2 per cent against the issue price of Rs 1,100.
The stock started trading at Rs 1,126.20, up 2.38 per cent on the BSE.
At the NSE, it listed at Rs 1,125, up 2.27 per cent.
The company's market valuation stood at Rs 14,222.04 crore.
The initial public offer of Travel Food Services Ltd got subscribed 2.88 times on the closing day of bidding on Wednesday last week.
The initial share sale had 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.
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.
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