Travel Food Services IPO
Travel Food Services Limited (TRAVELFOOD) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 14 July 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +0.7% (likely range -3% to +8%), day's high +7.0%, chance of a gain 50%. Actual: +2.3% at the open, +2.7% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 38,20,095 | 2,93,98,278 | 7.70x | |
| NII (HNI) total | 28,65,072 | 45,36,662 | 1.58x | |
| Big NII (above ₹10 lakh) | 19,10,048 | 33,28,143 | 1.74x | |
| Small NII (₹2-10 lakh) | 9,55,024 | 12,08,519 | 1.27x | |
| Retail | 66,85,168 | 46,27,506 | 0.69x | |
| Employees | 42,507 | 73,320 | 1.72x | |
| Total | 1,34,12,842 | 3,86,35,766 | 2.88x |
Bids on NSE and BSE together, as published by NSE, as of 09 Jul 2025, 07:00 PM. Shares offered exclude the anchor portion. 10% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Travel Food Services's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Fusion Micro FinanceNov 2022 | 8.59x | 1.38x | 0.51x | 2.95x | ₹1,115 Cr | -2.3% | -0.9% |
| Vedant FashionsFeb 2022 | 7.49x | 1.07x | 0.39x | 2.57x | ₹3,149 Cr | +8.0% | +14.6% |
| Varroc EngineeringJun 2018 | 9.16x | 2.45x | 0.95x | 3.59x | ₹1,955 Cr | +5.0% | +9.8% |
| Schloss BangaloreMay 2025 | 7.46x | 1.02x | 0.83x | 4.50x | ₹3,686 Cr | -6.7% | +0.9% |
| Metro BrandsDec 2021 | 8.49x | 3.02x | 1.13x | 3.64x | ₹1,368 Cr | -12.6% | +1.6% |
| SAMHI HotelsSep 2023 | 8.82x | 1.22x | 1.11x | 5.33x | ₹1,429 Cr | +6.8% | +16.4% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| HSBC Securities and Capital Markets (India) | 15 | +8.3% | 87% |
| ICICI Securities | 109 | +21.3% | 69% |
| Batlivala and Karani Securities India | — | — | — |
Offer documents (NSE)
Frequently asked
What is the Travel Food Services IPO price band and lot size? ₹1,045–1,100 per share, with a lot of 13 shares, so the smallest retail bid is ₹14,300.
How many times has it been subscribed? 2.88x overall: QIB 7.70x, NII 1.58x, retail 0.69x, employees 1.72x.
How did it list? It opened at ₹1,125, +2.3% against the issue price of ₹1,100, and closed its first day -2.3%.
