Travel Services Food Company aims to raise ₹2,000 crores through an initial public offering, which has received legal backing from law firms SAM, Latham, and Khaitan.
In a significant development in the Indian food and beverage industry, Travel Food Services Limited (TFS) has successfully raised ₹2,000 crore through an initial public offering (IPO). TFS, a leading player in the travel retail segment, offers a diverse range of international cuisines and gourmet food options tailored to travelers' preferences.
Shardul Amarchand Mangaldas & Co served as the legal advisors for Travel Food Services in this IPO. The labor and employment team was led by Partners Pooja Ramchandani and Kriti Kaushik, while the transaction team included Partners Aditya Cheriyan, Vijayaraghavan, Ayushi Saumya, Aayush Virani, Ria Chaudhary, and Avantika Tanwar, along with Associates Nehha Sahgal, Veronica Miranda, and Gayathri Krishnan.
The Kapur Family Trust is selling equity shares in this IPO. The Book Running Lead Managers for the IPO were Kotak Mahindra Capital Company Limited, HSBC Securities & Capital Markets, ICICI Securities, and B&K Securities. Khaitan & Co advised the Book Running Lead Managers on this IPO, as to Indian law.
TFS operates over 380 outlets and 27 lounges across 19 cities in India, specialising in quick service restaurants (QSRs) and airport lounges, providing a unique dining experience at major travel hubs. Abhishek Parekh, Partner; Natalee Nanda, Partner; Kanwardeep Kapany, Counsel; and Joanna Barretto, Senior Associate led the general corporate team for Travel Food Services.
Latham & Watkins LLP served as the international legal counsel for Travel Food Services on this IPO, but the specific roles of their team members were not disclosed. Manjari Tyagi, Partner; Deepika Goyal, Principal Associate; Pankhuri Swarnim, Associate; and Roop Singh, Associate led the securities regulatory advisory team.
In the run-up to the IPO, the firm also advised on various restructuring, regulatory, and corporate matters. The exact details of these advisory roles were not available in the search results.
Following the successful IPO of Travel Food Services Limited (TFS), individuals interested in business and finance might consider investing in TFS due to its strong presence in the travel retail segment and diverse offerings in personal-finance consideration. Shardul Amarchand Mangaldas & Co provided legal advice throughout the IPO process, with several of their partners and associates taking lead roles.
