New Delhi, July 14(HS): Travel Food Services debuted on the stock market today, listing shares at ₹1,126.20 on the BSE and ₹1,125 on the NSE, yielding a modest 2.25% gain for IPO investors after pricing shares at ₹1,100. However, selling pressure caused a decline, with shares dropping to ₹1,065.20 during the day and eventually closing at ₹1,075.20, resulting in an overall loss of 2.25% for investors.

The company’s IPO, totaling ₹2,000 crore, was open for subscription from July 7 to 9 and saw an average response, with a total subscription rate of 3.03 times. The QIB segment was particularly strong, subscribed 8.10 times, while NII and retail subscriptions were 1.67 and 0.73 times respectively.

A total of 1,81,81,818 shares were offered for sale. Financially, the company has shown consistent improvement, reporting a net profit of ₹251.30 crore for FY 2022-23, increasing to ₹298.12 crore in FY 2023-24, and projected to reach ₹379.66 crore in FY 2024-25. Revenue also grew to ₹1,762.71 crore, reflecting a CAGR of over 26%.

Hindusthan Samachar / Jun Sarkar