Travel Food Services shares end over 2 pc lower in market debut trade

New Delhi, Jul 14 (PTI) Shares of Travel Food Services Ltd on Monday ended with a discount of over 2 per cent against the issue price of Rs 1,100.

The stock started trading at Rs 1,126.20, up 2.38 per cent on the BSE. During the day, it hit a high of Rs 1,128.90 and a low of Rs 1,065.20. Shares of the firm finally ended at Rs 1,075.20, a discount of 2.25 per cent.

On the NSE, the stock was listed at Rs 1,125, up 2.27 per cent. It ended at Rs 1,074.80 apiece, a decline of 2.29 per cent.

The company's market valuation stood at Rs 14,158.18 crore.

The initial public offer of Travel Food Services Ltd got subscribed 2.88 times on the closing day of bidding on Wednesday last week.

The initial share sale had a price band of Rs 1,045-1,100 per share.

Travel Food Services launched its first travel quick-service restaurant (QSR) outlet in 2009. It is promoted by SSP Group plc (SSP) and its affiliates SSP Group Holdings Ltd, SSP Financing Ltd, SSP Asia Pacific Holdings Ltd, along with the Kapur Family Trust, Varun Kapur and Karan Kapur.

Headquartered in Mumbai, Travel Food Services' portfolio features a diverse selection of food and beverage (F&B) concepts, including fast food, cafes, bakeries, food courts and bars, primarily located in airports and some highway locations. PTI SUM SUM SHW