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Travel Food Services IPO Review

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Introduction to Travel Food Services IPO

Travel Food Services Limited (TFS), one of India’s prominent Travel QSR and airport lounge service providers, is coming up with its IPO. With the increasing passenger footfall in Indian airports and evolving travel trends, TFS is well-positioned in a niche segment. This Travel Food Services IPO Review covers detailed insights on its IPO Date, Price, Size, GMP, Financials, and whether you should Subscribe or Avoid this issue.

About Travel Food Services Limited

Established in 2007, Travel Food Services Limited is a leading F&B and lounge service provider in India. The company operates through two core verticals:

  • Travel QSR (Quick Service Restaurants) across 14 airports in India and 3 in Malaysia
  • Airport Lounges under its brand “Araya,” targeting premium customers

As of June 30, 2024, TFS operates 397 QSR outlets and multiple lounges, with a brand mix of 117 partner and in-house labels.

Travel Food Services IPO Review -Dates, Price, GMP, Analysis – Should You Subscribe or Avoid

Competitive Strengths

  • Market Leader in airport F&B services and lounges in India
  • Diverse Brand Portfolio with global, regional, and in-house brands
  • Deep Airport Presence: Present in major Indian airports (Delhi, Mumbai, Bengaluru, Chennai, Hyderabad)
  • Strong Financial Performance with growing revenues and profits
  • Strategic Promoter Support from SSP Group and Kapur Family

Travel Food Services IPO Issue Details

Particulars Details
IPO Open Date July 7, 2025
IPO Close Date July 9, 2025
Listing Date (Tentative) July 14, 2025
IPO Price Band ₹1045 to ₹1100 per share
Face Value ₹1 per share
Market Lot 13 Shares
Minimum Investment (Retail) ₹1100 x 13 = ₹14,300
Issue Size ₹2,000 Crores (Offer for Sale only)
Employee Discount ₹104 per share
Listing At NSE, BSE

Note: Entire IPO is Offer for Sale (OFS); Company will not receive any proceeds.

Objects of the IPO

Since the entire IPO is an Offer for Sale by the Kapur Family Trust, the company will not receive any funds. The objective is to enable the promoter to partially exit and unlock value.

Financial Performance

Here are the financials of TFS for the last three years:

Financial Year Revenue (₹ Cr) PAT (₹ Cr) EBITDA Margin ROE
FY 2023 1,103.6 251.3 41.5% 38.6%
FY 2024 1,462.4 298.1 37.6% 34.3%
FY 2025 1,762.7 379.7 40.1% 35.5%

TFS has shown consistent growth in revenue and profit over the last 3 years. High EBITDA margins and return ratios reflect strong operational efficiency.

Travel Food Services IPO Valuation: P/E Ratio vs Peers

At the upper price band of ₹1100 and FY25 EPS of ₹22.63, the P/E works out to 48.6x. Here is the comparison with listed peers:

Company P/E Ratio
Devyani International 96.3x
Sapphire Foods 76.2x
Barbeque Nation 60.1x
Travel Food Services 48.6x (IPO)

Valuation is relatively reasonable considering TFS’ niche position and strong brand ecosystem.

Grey Market Premium (GMP) of Travel Food Services IPO

As per the latest grey market trends, Travel Food Services IPO GMP is around ₹40-50 per share, indicating moderate investor interest. This GMP trend may vary closer to listing.

Reasons to Invest in Travel Food Services IPO

  • Leading player in Travel QSR & airport lounges with limited listed peers
  • Strategic presence in high-traffic Indian airports
  • Strong revenue and PAT growth
  • Backed by reputed promoters (SSP Group)
  • Robust margins and financial ratios

Risk Factors in Travel Food Services IPO

  • Entirely an OFS; no proceeds go to the company
  • Highly dependent on the travel and airport ecosystem
  • Regulatory risks related to F&B and airport contracts
  • Limited pricing power in some segments

How to Apply for Travel Food Services IPO?

You can apply through:

  • Net banking ASBA (SBI, HDFC, ICICI, etc.)
  • UPI-based apps like Zerodha, Groww, Paytm Money
  • Broker Platforms with pre-filled IPO forms

Make sure UPI mandate is accepted before 5 PM on July 9, 2025.

Conclusion: Should You Invest in Travel Food Services IPO or Avoid?

Travel Food Services IPO appears to be a reasonably priced offering in a niche segment with no direct listed peer offering a similar scale in QSR and lounge services at airports. Strong financials, brand portfolio, and airport contracts offer long-term visibility.

High Risk Investors can Invest for Medium to Long Term perspective.

FAQs about Travel Food Services IPO

  1. What is Travel Food Services IPO Date?
    IPO opens on July 7, 2025 and closes on July 9, 2025.
  2. What is the GMP of Travel Food Services IPO?
    As of now, GMP is around ₹40-50 per share.
  3. What is the lot size and minimum investment?
    One lot is 13 shares; minimum investment is ₹14,300.
  4. Is Travel Food Services IPO good or bad?
    Based on financials and valuation, it looks good for medium to long-term.
  5. How much is the P/E Ratio of this IPO?
    The IPO is priced at 48.6x FY25 EPS.
  6. Will the company get any money from IPO proceeds?
    No. This is an Offer for Sale; proceeds go to promoter (Kapur Family Trust).
  7. Where will the shares be listed?
    Shares will be listed on NSE and BSE.

Disclaimer: This article is for informational purposes only and not a recommendation to invest. Please consult your financial advisor before investing in IPOs.

Suresh KPSuresh KP
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FITUR Cruises 2026 reaffirms its commitment to the booming cruise holiday industry

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MADRID – In 2024, the cruise industry reached a record 34.6 million passengers worldwide, 9.3% more than the previous year, and by 2025 this figure is expected to increase to 37.7 million. Furthermore, by 2030, the global cruise market is expected to generate revenues of 18.35 billion dollars with a compound annual growth rate of 12.9%, according to the ‘State of the Cruise Industry 2025’ report published by the Cruise Lines International Association (CLIA).

Faced with this solid expansion of the cruise sector, the International Tourism Trade Fair is responding to this global tourism trend and is offering the strategic opportunity of connecting with a dynamic market with great potential at the fifth edition of FITUR Cruises from 21 to 25 January at IFEMA MADRID.

Organised in collaboration with online magazine Cruceroadicto.com, the event will debut a redesigned space in Hall 4 of the Trade Fair Centre that will combine the exhibition area, the central auditorium and the Cruise Market business area, which in 2026 is gathering together the largest number of cruise lines and auxiliary industry companies.

FITUR Cruises’ dual strategy: B2B and B2C approach for a personalised offer

Over the course of the trade visitor days -Wednesday 21, Thursday 22 and Friday 23 January – FITUR Cruises 2026 will connect the key players that drive the sector’s solid performance and will offer an interesting programme of conferences. This will contribute to boosting cruise sales, reinforcing their public image as a holiday option and promoting awareness among sales agents and travellers.

Cruise Market will be the heart of FITUR Cruises 2026, acting as a meeting, work and business point between cruise lines, destinations, ports and tour operators, as well as between these actors with the trade visitor and the end traveller. For its part, Cruise Campus will continue with its innovative system of 25-minute talks and  mini-courses focused on areas such as marketing for travel agents, who account for approximately 50% of the industry’s turnover, communication and the travel experience from all angles and with a more practical approach.

At the weekend, when FITUR opens its doors to the general public, the Cruises area will reinforce the loyalty of cruise passengers and organise awareness-raising activities on this type of tourism, bringing travellers closer to the diversity of the offer, which includes family cruises with attractions and a wide range of on-board leisure activities to ultra-luxury cruises with helicopters and submarines; premium and upper premium cruises offering fine dining; expedition lines; river cruises, or cruises specialising in a specific geographical area.

In addition, visitors can also take part in the fifth edition of the Cruise Scavenger Hunt, a big treasure hunt among the FITUR stands, as well as the popular Café & Cruises meeting where passengers can share their on-board experiences.

 Cruceroadicto Awards, the only awards voted by the Spanish-speaking travel community

On Thursday 22 January, FITUR Cruises will be hosting the IV Cruceroadicto Awards ceremony, the only ones voted 100% by the Spanish-speaking travel community and certified by the AENOR mark for their commitment to transparency and impartiality. During the event, the best ship, cruise line and port of 2025 as well as the different sub-categories will be revealed.

The article FITUR Cruises 2026 reaffirms its commitment to the booming cruise holiday industry first appeared in TravelDailyNews International.



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Actions for Hoteliers to Leverage Emerging Travel Trends : 4Hoteliers

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Travelers are blending business with leisure, seeking cooler climates, and working from inspiring new locations, but the hotel industry has largely remained unresponsive.

The data may not yet fully reflect the volume of these burgeoning trends, but this signals a crucial opportunity for proactive hoteliers to move beyond generic offerings and capture a growing market of guests seeking higher value and tailored experiences.

The disconnect between trending topics and hotel actions is apparent. Standard hotel offerings leave many travelers in these emerging categories underserved. Hotels have a clear opportunity to differentiate themselves and build guest loyalty.

Instead of waiting for overwhelming statistical evidence, savvy hoteliers should be at the forefront, shaping their services to meet and exceed the expectations of these new traveler personas. Here are three key actions hoteliers should take to interpret and act on the latest trends, ensuring they capture their full impact.

1. Deep Dive into Data and Decipher the “Why”

Understanding a trend’s relevance to your specific property is crucial before taking meaningful action. Acknowledging a new buzzword isn’t enough; investigate how it appears in your market and guest data to gain a deeper understanding of its relevance. Moving beyond guesswork and manual spreadsheet analysis is essential.

To truly unlock these insights, you need a hotel business intelligence (BI) system. A modern BI platform automates the collection and analysis of data from all your key systems—your Property Management System (PMS), point-of-sale (POS), and even online guest reviews. Instead of relying on gut feelings, a BI system provides a comprehensive view of guest behavior.

It can flag patterns, such as increasing lengths of stay that bridge a Thursday to a Monday (a classic bleisure indicator), correlate guest origin with on-site spending, or track booking lead times from specific markets. This technology enables you to identify emerging trends with statistical confidence, allowing you to act decisively while your competitors are still discussing it.

With this powerful analytical foundation, you can begin to dig deeper. Are you seeing longer stays that bridge weekdays and weekends? Are guests inquiring about workspaces or the reliability of high-speed internet? Is there an uptick in visitors from regions experiencing extreme heat during certain times of the year? A BI system will not only help you ask these questions but also give you the clear, data-backed answers you need to build your strategy.

2. Reimagine and Repurpose Your Physical Spaces

Once you have a handle on the trends impacting your business, the next step is to adapt your physical environment. A one-size-fits-all approach to hotel rooms and common areas will no longer suffice.

For the “work-from-anywhere” guest, this means more than just a desk and a chair. Consider creating dedicated, well-equipped workstations that feature ergonomic seating, ample power outlets, and excellent lighting for video calls. Could a lesser-used common area be transformed into a stylish and functional co-working space? Offering day passes to these spaces can also attract local remote workers, creating a new revenue stream.

Attract “bleisure” travelers by ensuring a seamless transition between work and relaxation. Offer packages that bundle a spa treatment or a happy hour credit with a room booking. Create a “Business and Leisure” section on your website to highlight your meeting facilities and proximity to local attractions.

For “coolcationers,” the focus shifts to the experience of the destination. While you can’t change the weather, you can enhance the enjoyment of it. Partner with local tour operators to offer unique excursions that capitalize on the pleasant climate, such as guided hikes, boat trips, or outdoor yoga sessions. In-room, you could provide amenities that encourage exploration, like pre-loaded transit cards or a curated guide to local parks and outdoor cafes.

Continue to read about the third action here



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Film-Inspired Travel Campaigns : Tourism Fiji

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Tourism Fiji has unveiled a new global marketing initiative titled ‘Wilson’s Happily Ever After,’ commemorating the 25th anniversary of the acclaimed film Cast Away. The campaign revives the film’s iconic character, Wilson, through a thoughtfully produced 90-second short film that reimagines his narrative—from isolation to joyful belonging—set against the stunning backdrop of Fiji’s islands.

Produced by Special PR and directed by James Anderson, with on-location filming by Radlab, the campaign centers on Wilson’s symbolic return to Fiji. The story begins as he is discovered on the white-sand shores of Serenity Island Resort by a young Fijian girl named Lani. She embraces Wilson with a sense of wonder, inviting him into a series of memorable, culturally rich experiences. These include “cycling along historic sugar cane rail tracks with Eco Trax, kayaking in crystal-clear waters, partaking in a traditional Kava ceremony, and engaging in a spirited game of volleyball.”

This film-inspired campaign blends cinematic nostalgia with authentic Fijian hospitality, highlighting the destination’s enduring appeal and reinforcing Fiji’s position as a welcoming, adventure-filled travel destination for global audiences.

Image Credit: Tourism Fiji



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