Travel Food Services' IPO Cruise Lands Early on Subscription Runway
Travel Food Services Ltd's initial public offering (IPO) saw a 10% subscription on its first bidding day. The IPO, primarily an offer for sale, aims to raise Rs 2,000 crore, supported by anchor investors with Rs 600 crore. The company operates QSRs and lounges, mainly across airports.
- Country:
- India
Travel Food Services Ltd's initial public offer opened to a modest start, receiving a 10% subscription rate on its first day, according to National Stock Exchange data.
The IPO attracted bids for 1,390,766 shares out of the total 13,412,842 shares available. Retail investors subscribed 14%, while the Qualified Institutional Buyers (QIBs) and Non-Institutional Investors secured 7% and 6% of their designated portions, respectively.
The issue, set between Rs 1,045 and Rs 1,100 per share, will conclude on July 9. Its proceeds are fully allocated to the selling shareholder, as the IPO serves as an offer for sale by the Kapur Family Trust.
(With inputs from agencies.)
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