SSP Group Plc’s Strategic Move with TFS IPO

In a significant development for SSP Group Plc, the company has announced the pricing range for the initial public offering (IPO) of its joint venture, Travel Food Services (TFS), in India. This move marks a pivotal moment for SSP, a leading provider of catering and concession services across the UK, Europe, Asia, and North America, as it seeks to expand its footprint in the travel food services sector.

IPO Pricing and Market Capitalization

The IPO price band for TFS has been set between 1,045 and 1,100 Indian rupees per share. This pricing strategy positions TFS with an expected market capitalization ranging from 137.6 to 144.8 billion Indian rupees. The IPO, which is an offer-for-sale (OFS) by the Kapur Family Trust, the shareholding entity of K Hospitality Corp, will see TFS shares trading on the Indian stock exchange starting July 14.

SSP’s Stake and Strategic Interests

As part of the IPO process, SSP Group has committed to purchasing approximately 1.01% of TFS’ share capital, amounting to about 12.5 million pounds. This acquisition will elevate SSP’s total stake in TFS to 50.01%, underscoring SSP’s strategic interest in the joint venture and its confidence in TFS’s growth prospects.

IPO Details and Investor Opportunities

The IPO, valued at Rs 2,000 crore, is set to open on July 7 and will close on July 9, with the anchor book launching on July 4. The allotment of shares is expected to be finalized by July 10. Notably, the IPO is structured as an entirely offer-for-sale, meaning the proceeds will benefit the selling shareholder, the Kapur Family Trust, with no direct financial gain for TFS or SSP from the offer.

Investors interested in participating in the IPO can bid for a minimum of 13 equity shares, with the minimum investment for retail investors set at Rs 14,300 and the maximum at Rs 1,85,900. Additionally, eligible employees of TFS are offered a discount of Rs 104 per share on the final price. The offer allocation includes a 50% reservation for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and the remaining 35% for retail investors.

Market Context and SSP’s Position

As of June 30, 2025, SSP Group Plc’s close price stood at 173.9 GBP, with a 52-week high of 196.298 GBP and a low of 134.1 GBP. The company’s strategic move with the TFS IPO reflects its ongoing efforts to strengthen its position in the consumer discretionary sector, particularly within the hotels, restaurants, and leisure industry.

This IPO represents a significant step for SSP Group as it continues to diversify its portfolio and enhance its presence in the global travel food services market. With a keen focus on strategic investments and partnerships, SSP is well-positioned to capitalize on the growing demand for quality food and beverage services in travel locations worldwide.