Travel Food Services IPO got a great response, know the signals from the grey market before listing

News Topical, Digital Desk : Travel-quick service restaurant provider Travel Food Services is going to make its debut in the stock market from Monday. The listing date of Travel Food Services' IPO has been fixed as Monday, July 14. The company's IPO was open for subscription from Monday, July 7 to Wednesday, July 9. This IPO received an overwhelming response, especially from qualified institutional buyers (QIBs), who subscribed it 7.70 times. After this, non-institutional investors (NIIs) subscribed it 1.58 times and retail investors subscribed it 69 percent. According to the BSE report, the total subscription till the third day of the IPO was 2.88 times. Up to 50 per cent of the total shares in the Travel Food Services IPO were reserved for QIBs, 15 per cent for NIIs, and 35 per cent for retail investors.

IPO completely Offer for Sale This IPO was completely an Offer for Sale (OFS), with a total value of Rs 2,000 crore. In this, Kapur Family Trust is selling shares. This means that the company will not receive any funds from this issue, but all the proceeds will go to the seller. Travel Food Services launched its first travel QSR outlet in 2009. Travel Food Services Limited is a quick-service restaurant (QSR) and airport lounge service provider company, which serves many airports in India. As of June 30, 2024, the company is operating 397 travel QSR outlets in India and Malaysia, including 117 partner and proprietary brands. 

How does the grey market indicate? According to investorgain.com, the GMP of Travel Food Services IPO is Rs 40, that is, its share is trading at a premium of Rs 40 over the issue price in the grey market. The price band of the IPO was Rs 1,045 to Rs 1,100 per share. According to this, according to the grey market indications, the listing price could be Rs 1,140, which is 3.64 per cent higher than the issue price. However, according to experts, a decline in GMP has been observed in the last 16 sessions. The minimum level of GMP has been Rs 0 and the maximum Rs 92. 

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