Journey meals Providers Restricted has filed its draft purple herring prospectus (DRHP) with the capital market regulator, Securities and Change Board of India (SEBI), for an preliminary public providing (IPO).
Journey Meals Providers opened its inaugural journey quick-service restaurant (QSR) in 2009. The promotion is carried out by SSP Group plc and its subsidiaries—SSP Group Holdings Restricted, SSP Financing Restricted, SSP Asia Pacific Holdings Restricted—together with the Kapur Household Belief, Varun Kapur, and Karan Kapur.
Primarily based in Mumbai, the corporate dominates the swiftly rising Indian airport Journey QSR and Lounge markets, reaching the best income for Fiscal 2024, as said within the CRISIL Report.
Its Journey QSR choices embody a broad vary of meals and beverage (F&B) choices designed for vacationers, corresponding to quick meals retailers, cafes, bakeries, meals courts, and bars, primarily located in airports and choose freeway places to satisfy the calls for of on-the-go prospects.
As of June 30, 2024, the corporate operates in 14 airports throughout India, together with key hubs like Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, and Chennai, along with having a presence in three airports in Malaysia.
In fiscal 2024, Journey Meals Service recorded the best earnings per share (EPS) amongst its listed business rivals, together with Jubilant FoodWorks, Devyani Worldwide, Sapphire Meals India, Westlife Foodworld, and Restaurant Manufacturers Asia.
The income from operations rose by 30.85%, reaching ₹1,396.32 crore in fiscal 2024, up from ₹1,067.15 crore in fiscal 2023, pushed by a rise in its like-for-like (LFL) gross sales and web contracts. The revenue after tax climbed by 18.59%, reaching ₹298.02 crore in fiscal 2024, in comparison with ₹251.30 crore in fiscal 2023.
For the quarter ending June 30, 2024, the income from operations was ₹409.86 crore, with a revenue after tax amounting to ₹59.55 crore.
Challenge Particulars
The preliminary public providing (IPO) has a face worth of Re 1 and consists totally of a proposal on the market amounting to ₹2,000 crore by the Kapur Household Belief. The supply contains designated reservations for subscriptions by eligible staff.
The supply is being carried out by means of a book-building course of, the place a most of fifty% of the web providing is allotted to certified institutional patrons, whereas at the very least 15% and 35% are allotted to non-institutional and retail particular person buyers, respectively.
Kotak Mahindra Capital Firm Restricted, HSBC Securities and Capital Markets (India) Personal Restricted, ICICI Securities Restricted, and Batlivala & Karani Securities India Personal Restricted function the book-running lead managers, whereas Hyperlink Intime India Personal Restricted is appointed because the registrar for the difficulty.
Disclaimer: The views and suggestions above are these of particular person analysts, consultants and broking firms, not of Mint. We advise buyers to verify with licensed consultants earlier than making any funding determination.
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