K Hospitality Corp has achieved a significant milestone with the official listing of Travel Food Services (TFS)—its joint venture with SSP Group plc—on both the BSE and NSE today.
TFS shares debuted at the upper end of the price band, at ₹1,100 per share, giving the company a valuation of ₹14,485 crore. The initial public offering (IPO) comprised a ₹2,000 crore offer for sale (OFS) by the Kapur Family Trust (K Hospitality), and received strong support from prominent global and Indian investors, including ICICI Prudential, Abu Dhabi Investment Authority (ADIA), Axis Asset Management, Fidelity, Government Pension Fund Global (Norges), and Kotak Mahindra Asset Management, among others.
Since launching its first restaurant, Copper Chimney, in 1972, K Hospitality Corp has evolved into a prominent and diversified force in India’s hospitality and food service industry, with operations spanning eight countries. Through iconic brands like Copper Chimney, Bombay Brasserie, JOSHH, Blue Sea Banquets & Catering, The Irish House, Nando’s, and Wagamama, the group consistently delivers exceptional food experiences to millions of guests across high streets, malls, airports, offices, banquets, and more.
TFS—K Hospitality’s travel food services arm operated in partnership with SSP Group—has emerged as the leading player in India’s fast-growing airport Travel QSR and Lounge segments by revenue in Fiscal 2025. Its successful listing marks a major milestone, ushering in a new chapter of growth for TFS and reinforcing K Hospitality Corp’s commitment to building scalable, future-ready businesses that shape the future of India’s food and hospitality ecosystem.
Varun Kapur, Managing Director and CEO of TFS, added, “TFS’s listing is a testament to the dedication of our teams and the collaborative success of the K Hospitality and SSP Group plc joint venture. This milestone reflects our vision of transforming travel through creating world-class food and travel experiences while driving sustainable profitable growth for the business.”
Karan Kapur, Executive Director, K Hospitality, said, “As our TFS joint venture enters this new chapter, we remain focussed on our vision of creating memories and inspiring happiness through food. We will continue to invest in building strong homegrown brands, while scaling more world-class international concepts in India – such as our recent joint venture with the global market leader Nando’s. This milestone of listing the TFS business energizes us to keep growing, innovating, and touching the lives of more and more guests in the nascent and fast-growing food sector.”
