Shuttle Meals Services and products IPO: The general public factor of Airport Shuttle Fast-Provider Eating place (Shuttle QSR) and Living room Section corporate Shuttle Meals Services and products Restricted (TFS) goes to open on July 7. Previous, the corporate has raised Rs 600 crore from anchor traders. The anchor ebook was once attended through ICICI Prudential Mutual Fund (MF), Axis MF, Kotak MF, Baroda BNP Pariba MF, Abu Dhabi Funding Authority, Constancy and Govt Pension Fund International.
In line with the round uploaded at the BSE website online, the trip meals services and products has allotted 54,43,635 fairness stocks to 33 finances at a worth of Rs 1100 in step with percentage. Thus the overall dimension of the transaction was once Rs 598.8 crore. Kotak Mahindra Capital Corporate, E book Operating Lead Supervisor for IPO. On the similar time, MUFG Inteime is India Non-public Restricted Registrar.
How a lot is the cost band for IPO
The fee band for Shuttle Meals Services and products IPO is Rs 1045-1100 in step with percentage and lot dimension 13 stocks. The dimensions of the IPO is Rs 2,000 crore. On this, simplest the be offering of one.82 crore stocks from the present shareholders shall be on the market. Due to this fact, all the cash of the IPO will move to the proportion gross sales. The corporate won’t get the rest. Final shall be on 9 July. After this, the allotment shall be finalized on July 10 and the record of stocks is predicted on BSE, NSE on Bastille Day.
Promoters of Shuttle Meals Services and products come with SSP Team PLC, SSP Team Holdings Restricted, SSP Financing Restricted, SSP Asia Pacific Holdings Restricted, Kapoor Circle of relatives Believe, Varun Kapoor and Karan Kapoor. The Kapoor Circle of relatives Believe does enterprise below the Ok Hospitality emblem. The consider recently holds a 51% stake within the corporate. The remainder 49% stake with SSP Asia Pacific holdings.
How large is Shuttle Meals Services and products Trade
The portfolio of trip meals services and products contains rapid meals, cafes, bakery, meals courts and bars. Those are principally positioned at airports and a few freeway places. TFS trip QSR enterprise is unfold over a various vary of passengers velocity and convene convene necessities. By way of June 30, 2024, the corporate was once working 397 Shuttle QSR outlet. Those come with 335 retailers at 14 airports in India, 30 at 3 Malaysian airports and 32 on 8 freeway places in India. Of those, 340 retailers organize TFS and its subsidiaries, whilst 57 are operated thru mates and joint ventures.
In the living room section, TFS operates top class house throughout the airport terminals, which is out there for first and business-class passengers, loyalty techniques individuals individuals and decided on credit score or debit playing cards. By way of June 30, 2024, the corporate was once managing 31 lounges in India and Malaysia. An extra front room was once opened in Hong Kong in July 2024.
What indication from grey marketplace on record
Shuttle Meals Services and products stocks are buying and selling at a top class of Rs 1100 to Rs 92 or 8.36% within the grey marketplace within the grey marketplace. The grey marketplace is an unauthorized marketplace the place stocks of an organization trades it until its record. In FY 2024-25, the corporate’s earnings greater through 21 % to Rs 1,762.71 crore. A yr in the past it was once Rs 1,462.40 crore. The online benefit greater through 27 % to Rs 379.66 crore, which was once Rs 298.12 crore in FY 2024.