Primer: Devyani International (DEVYANI IN) - Aug 2026
As the largest Indian franchisee of Yum! Brands, Devyani International (DIL) is a primary vehicle for exposure to two iconic QSR brands, KFC and...
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Travel Food Services IPO - RHP Updates & Thoughts on Valuation
Travel Food Services (TFS) is looking to raise about US$233m in its India IPO. In this note, we will talk about the RHP updates and IPO valuations.
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Travel Food Services: $250M OFS, Niche Travel QSR but Valuations Seem Full Amidst near Term Weakness
TFS dominates Indian airport QSR and lounge market and is looking to grow aggressively across Asia, fair IPO valuation leaves limited room for...
842 Views
Guzman Y Gomez IPO - The Negatives - Lawsuits and Management Churn
Guzman Y Gomez plans to raise around US$160m in its Australian IPO. In this note, we talk about the not-so-positive aspects of the deal.
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Biggest Merger in Indian QSR Industry..
Devyani and Sapphire to merge, creating QSR powerhouse with 3,000+ stores, targeting Rs 78.3 billion revenue and Rs 2.25 billion cost synergies,...
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