JSA advised Kapur Family Trust, the promoter selling shareholder, on the initial public offering (IPO) of Travel Food Services Limited (TFS). The IPO was undertaken through an offer for sale aggregating ₹ 20,000 million (approximately USD 232 million) by the promoter selling shareholder.
TFS, a leading player in the fast-growing Indian airport travel quick service restaurant and lounge sectors, was successfully listed on July 14, 2025.
The transaction was led by Madhurima Mukherjee Saha, Partner, with support from the Equity Capital Markets team, including Shivali Singh, Partner, and Anshuman Singh, Associate.
Madhurima has more than 20 years of experience in securities offerings in the domestic and international markets including initial public offering, further offers, rights offer, qualified institutions placement, InVITs, block trades.