Mumbai13 minutes ago
- Copy link
The IPO of Travel Food Services Limited, a company running Lounge and Quick Service Restaurant Chain, has opened on 7 July today. It will remain open till 9 July. The company wants to raise Rs 2,000 crore through this IPO.
1.8 crore shares will be sold in this IPO. This IPO is completely offer for sale (offs). That is, the existing shareholders of the company (such as promoters, investors or other big shareholders) will introduce the public to sell the shares of the company with them. This means that the company is not issuing new shares to raise money, but already existing shares are being sold.
How much money can you spend minimum and maximum? Travel Food Services Limited has fixed the price band of IPO ₹ 1045 – ₹ 1,100. Retail investors can do bidding for minimum for 13 shares. If you apply for 1 lot for the IPO’s upper prize band ₹ 1,100, then ₹ 14,300 will have to be invested for this.
At the same time, retail investors can apply for maximum 13 lots i.e. 169 shares. For this, investors will have to invest ₹ 1,94,285 according to the upper prize band.
35% of the issue reserved for retail investors The company has reserved 50% of the IPO for qualified Institutional Buyers (QIB). Apart from this, 35% share is reserved for non-institutional investors (NII).
What is IPO? When a company releases its shares for the common people for the first time, it is called an initial public offering i.e. IPO. The company needs money to increase business. In such a situation, instead of taking loans from the market, the company raises money by selling some shares to public or issuing new share. For this, the company brings IPO.
