New Delhi, July 14(HS): Travel Food Services made its stock market debut today at a premium, issuing shares at ₹1,100 under its ₹2,000 crore IPO. It listed at ₹1,126.20 on the BSE and ₹1,125 on the NSE, initially providing investors with a gain of 2.25 percent. However, selling pressure quickly emerged, and by 10:15 AM, shares fell to ₹1,091.50, resulting in a loss of 0.77 percent for IPO investors.
The IPO, open between July 7 and 9, saw an overall subscription of 3.03 times, with qualified institutional buyers (QIBs) subscribing 8.10 times, non-institutional investors (NIIs) at 1.67 times, retail investors at 0.73 times, and employees at 1.81 times. The offer included 1,81,81,818 shares with a face value of one rupee.
Financially, Travel Food Services has shown growth, reporting a net profit of ₹251.30 crore for 2022-23, projected to rise to ₹298.12 crore for 2023-24 and ₹379.66 crore for 2024-25. Its revenue has grown at a CAGR of over 26 percent, reaching ₹1,762.71 crore.
Hindusthan Samachar / Jun Sarkar
