REG - SSP Group PLC - Opening of TFS IPO Offer

SSPAnnouncement

Mon 07:00

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RNS Number : 9670P  SSP Group PLC  07 July 2025

  LEI:213800QGNIWTXFMENJ24

7 July 2025

 

PROPOSED Initial Public OfferING IN INDIA of Travel Food Services Limited

OPENING OF IPO OFFER

SSP Group plc ("SSP"), a leading operator of restaurants, bars, cafes and
other food and beverage outlets in travel locations across 38 countries, in
conjunction with K Hospitality Corp, SSP's joint venture partner in India,
provides a further update on the proposed initial public offering ("IPO") in
India of Travel Food Services ("TFS").

Consistent with our announcement dated 2 July 2025, SSP notes that the IPO of
TFS has opened today for bidding by the public and will close on Wednesday 9
July 2025.

SSP also notes that TFS has finalised the allocation of 5,443,635 Equity
Shares to Anchor Investors at an Anchor Investor Allocation Price of 1,100
Indian Rupees per Equity Share, which is at the top of the previously
indicated IPO price band. The final IPO price will be determined through the
book build process.

The Anchor Investor list includes funds managed by large global and Indian
investors such as ICICI Prudential, Abu Dhabi Investment Authority, Axis Asset
Management, Fidelity, Government Pension Fund Global (Norges Bank), Kotak
Mahindra Asset Management, amongst others.

Further announcements will be made to update on progress, as appropriate.

 

CONTACTS

Investor and analyst enquiries

Sarah John, Corporate Affairs Director, SSP Group plc

Sarah Roff, Group Head of Investor Relations, SSP Group plc

+44 (0) 7736 089218 / +44 (0) 7980 636214

E-mail: sarah.john@ssp-intl.com (mailto:sarah.john@ssp-intl.com) /
sarah.roff@ssp-intl.com

 

Media enquiries

Rob Greening / Russ Lynch

Sodali & Co

+44 (0) 207 250 1446

E-mail: ssp@sodali.com

 

 

NOTES TO EDITORS

 

About SSP

SSP Group plc (LSE:SSPG) is a global leading operator of food and beverage
outlets in travel locations employing around 49,000 colleagues in over 3,000
units across 38 countries. We specialise in designing, creating and operating
a diverse range of food and drink outlets in airports, train stations and
other travel hubs across six formats: sit-down and quick service restaurants,
bars, cafés, lounges, and food-led convenience stores. Our extensive
portfolio of brands features a mix of international, national, and local
brands, tailored to meet the diverse needs of our clients and customers.

Our purpose is to be the best part of the journey, and we are committed to
delivering leading brands and innovative concepts to our clients and customers
around the world, focusing on exceptional taste, value, quality and service.
Sustainability is crucial for our long-term success, and we aim to deliver
positive impact for our business while uniting stakeholders to promote a
sustainable food travel sector.

www.foodtravelexperts.com (http://www.foodtravelexperts.com)

 

About TFS

TFS is a joint venture between SSP and K Hospitality Corp (the flagship
hospitality brand under which the Kapur Family Trust operates, owns or invests
in various hospitality and food services companies).

TFS is the leading player in the fast-growing Indian airport travel quick
service restaurant ("Travel QSR") and lounge ("Lounge") sectors based on
revenue in Fiscal 2025.

www.travelfoodservices.com (http://www.travelfoodservices.com)

 

TRAVEL FOOD SERVICES LIMITED ("TFS"), our joint venture in India, is
proposing, subject to applicable statutory and regulatory requirements,
receipt of requisite approvals, market conditions and other considerations, to
make an initial public offering of its Equity Shares ("Offer") and has filed a
Red Herring Prospectus dated 1 July  2025 ("RHP") with the Registrar of
Companies, Maharashtra at Mumbai and submitted with BSE Limited ("BSE"),
National Stock Exchange of India Limited ("NSE" together with BSE,
collectively, "Stock Exchanges") and Securities and Exchange Board of India
("SEBI"). The RHP is available on the website of SEBI at www.sebi.gov.in
(http://www.sebi.gov.in) , as well as on the websites of the Stock Exchanges
i.e. BSE and NSE at www.bseindia.com (http://www.bseindia.com) and
www.nseindia.com (http://www.nseindia.com) , respectively, on the website of
the Company at www.travelfoodservices.com (http://www.travelfoodservices.com)
and on the website of the Book Running Lead Managers ("BRLMs") i.e., Kotak
Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India)
Private Limited, ICICI Securities Limited and Batlivala & Karani
Securities India Private Limited, at, https://investmentbank.kotak.com
(https://investmentbank.kotak.com) , www.business.hsbc.co.in
(http://www.business.hsbc.co.in) , www.icicisecurities.com
(http://www.icicisecurities.com) , and https://www.bksec.com/
(https://www.bksec.com/) , respectively for investors who are residents of
India. Any potential investors should note that investment in equity shares
involves a high degree of risk and for details relating to such risk, see
''Risk Factors'' on page 36 of the RHP. Potential investors should not rely on
the RHP filed with SEBI and the Stock Exchanges and should instead rely on
their own examination of TFS and the Offer, including the risks involved, for
making any investment decision.

This announcement does not constitute an invitation or offer of securities for
sale in any jurisdiction. The Equity Shares of TFS have not been and will not
be registered under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any other applicable law of the United States and
may not be offered or sold within the United States except pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the U.S. Securities Act and applicable United States state
securities laws. Accordingly, the Equity Shares are being offered and sold (i)
within the United States only to persons reasonably believed to be "qualified
institutional buyers" (as defined in Rule 144A under the U.S. Securities Act
in transactions exempt from or not subject to the registration requirements
thereunder, and (iii) outside the United States to eligible investors in
"offshore transactions" as defined in, and in reliance on, Regulation S under
the U.S. Securities Act and the applicable laws of the jurisdiction where
those offers and sales occur. No public offering of the Equity Shares or other
securities is being made in the United States.

ENDS

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