A Trader's Guide To "G" Day | Positioning For "Next-Generation GST Reforms"
​The 56th GST Council Meeting in New Delhi aims to bring next-generation reforms as a "Diwali gift" for consumers, but market indicators suggest a...
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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...
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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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Primer: Jubilant Foodworks (JUBI IN) - Apr 2026
Dominant Market Leader Facing Margin Headwinds: Jubilant Foodworks is the largest Quick Service Restaurant (QSR) operator in India, primarily...
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