Travel Food Services Rs 2,000-cr IPO

New Delhi: Travel Food Services, operating a travel quick-service restaurant and a lounge business across airports in India and Malaysia, has filed draft papers with markets regulator Sebi to float a Rs 2,000 crore initial public offering (IPO).

The proposed IPO is entirely an offer-for-sale (OFS) of shares worth Rs 2,000 crore by promoter Kapur Family Trust. The offer includes reservations for subscriptions by eligible employees, according to the draft red herring prospectus (DRHP) filed on Tuesday. Since the IPO is entirely an OFS, the company will not receive any funds from the issue and the proceeds will go to the selling shareholder.