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LONDON - Travel Food Services Limited (TFS), a joint venture between SSP Group plc (LSE:SSPG) and K Hospitality Corp, has priced its initial public offering in India at 1,100 Indian Rupees per share, the company announced Thursday.
The pricing, at the top end of the previously announced range, indicates an expected market capitalization on listing of 144.8 billion Indian Rupees (£1.24 billion at the current exchange rate of 116.50 Indian Rupees to 1 GBP).
TFS, described as the leading player in India’s airport quick service restaurant and lounge sectors based on revenue in fiscal 2025, has filed its Prospectus with Indian authorities. The document is available on the websites of the Indian Stock Exchanges, SEBI, and on TFS’s own investor page.
Trading of TFS shares is planned to commence on Monday, July 14, 2025.
SSP Group, which operates food and beverage outlets across 38 countries, formed TFS as a joint venture with K Hospitality Corp, the flagship hospitality brand under which the Kapur Family Trust operates.
The announcement follows the opening of the TFS IPO for public bidding on July 7, 2025, according to the press release statement.
SSP Group employs approximately 49,000 people and operates over 3,000 units globally, specializing in food and drink outlets in travel locations such as airports and train stations.
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