Member Info for Savage_KeyboardR

Germany’s finance minister Lars Klingbeil says "If we don’t reach a fair trade deal with the U.S., the EU is ready to take counter measures."

and EU trade commissioner Maroš Šefčovič stated: "I want to assure you that we are working flat out to secure a fair and mutually beneficial negotiated solution, but we need to be prepared for all outcomes and be ready to rebalance if necessary."

Strap in for some turbulence which looks set to send stocks, including VOD, lower IMO.

As July 8, 2025 5:04:36 PM (Day 2):

Employees: 0.77x

Retail Investors (RII): 0.30x

Qualified Institutional Buyers (QIBs): 0.19x

Non-Institutional Investors (NIIs): 0.25x

Overall score: 0.26x

At only 26% subscribed there's a large hill to climb tomorrow it seems, albeit the employees subscriptions are appearing as though they'll easily hit 1.0x and possible end up being oversubscribed by completion of this IPO tomorrow.

Employee shares offered now: 67% (0.67x) sold - strongly suggesting they'll all be successfully sold, ahead of when this IPO completes tomorrow👍 - However, qty available for Employees to purchase was very small in the first place.

Retail shares offered now 25% (0.25x) - this is starting to pickup pace now and they represent the second largest qty available for purchase (making up just over 26% of the total shares being offered with this IPO).

As July 8, 2025 12:24:36 PM (Day 2):

Employees: 0.61x

Retail Investors (RII): 0.24x

Qualified Institutional Buyers (QIBs): 0.07x

Non-Institutional Investors (NIIs): 0.15x

Overall score: 0.17x

Ideally this needs to pick up pace towards the close of the Mumbai stock Exchange in a few hrs time 🤞

And perhaps things are far more simple and straightforward. The words just literally mean precisely what they say and there is no alternative or deeper meaning to them after all 👍😎

Eddier -interesting the TR-1 RNS states Oasis Management Company Ltd have the shares as 'Total Return Swap': https://www.investopedia.com/terms/t/totalreturnswap.asp

Found another link to obtain the stats: https://www.chittorgarh.com/ipo_subscription/travel-food-services-ipo/2054/

As at July 7, 2025 4:24:37 PM (Day 1):

Anchor Investors: 1.0x (this won't change)

Employees: 0.38x

Retail Investors (RII): 0.14x

Qualified Institutional Buyers (QIBs): 0.07x

Non-Institutional Investors (NIIs): 0.06x

Overall score: 0.11x (i.e. a smidge above one tenth subscribed) - Current rating = 'muted first-day'

Reminder: Target to meet anticipated demand = 1.0x (anything above implies greater demand for investing into this IPO offer - conversely shortfall suggests demand falling short).

"Show me in the RNS where they state to expect a 15%-20% drop in revenue on 2024 as you are suggesting on revenues around the £2b mark?"

The above is not included in the RNS for the recent TU in the way you have worded it there.

However, the following are notable changes IMO:

1. "operating margin improvement weighted to the second half of the year" said the TU... Now there was no specific mention about this being 'weighted to second half' beforehand, and I think this is a downgrade because previously (at FY2024 results) CPI stated "Medium term targets unchanged. Deliver an adjusted operating margin of 6-8%, operating cash conversion of 65% to 75% and delivering low to mid-single digit adjusted revenue1 growth per annum" - Notice beforehand it said per annum whereas now the TU is essentially an acknowledgement that within H1 they have missed this, and they now expect "margin improvement weighted to the second half of the year" - That's a downgrade in my book because it increases the likelihood of missing the guidance, as they're now entirely reliant on H2 picking up all of the slack.

2. TU stated both the following lines: "Re-iterating full year 2025 financial guidance of broadly flat revenue" and "In line with expectations, the Group’s adjusted revenue was 4.5% lower in the five months ended 31 May 2025"... However, at FY2024 results the forward guidance stated: "Expect adjusted revenue to be broadly in line with 2024 overall" - Again slight language alteration from 'broadly in line' to 'broadly flat' but with the 5months to date already being "4.5% lower" - Again, a downgrade in my book.

The HY results in August will be very enlightening indeed - Perhaps they'll prove to be the most critical set of results for the SP in a long while?

DYOR - IMO

IPO subscription update - Progress, as at 10:32am (3pm Mumbai time):

Employees: 0.32x

Retail Investors (RII): 0.12x

Qualified Institutional Buyers (QIBs): 0.07x

Non-Institutional Investors (NIIs): 0.05x

Overall score: 0.09x

Given this means 1/3rd of the anticipated demand for employee allocated shares has been met by 3pm on the first day of this IPO I think this highly suggests those working for the business are rather content to snap up stock for this IPO. Hopefully, the rest will recognise this as being healthy signal, and I would therefore reckon momentum is likely to pick up rapidly from here on. Just my opinion mind. Open to opinions of others should anyone be willing to share their take?

GMAN12 - " AH has reiterated recently as broadly flat revenue to 2024."

Except that it won't end up being 'broadly flat' - It's going to see a decline which even the recent TU acknowledged.

DYOR - IMO

Context about TFS can be found on their site here: https://www.travelfoodservices.com/who-we-are

IPO live subscription update - Progress for the following categories, as at 09:20am:

Employees: 0.3x

Retail Investors (RII): 0.10x

Qualified Institutional Buyers (QIBs): 0.07x

Non-Institutional Investors (NIIs): 0.04x

Overall score: 0.08x

Reminder: The target to meet with the anticipated demand = 1.0x (anything above this level will imply there's greater demand for investing into this IPO offer - conversely below the level will suggest demand is falling short).

Still a long way to go yet!

Source here: https://www.thehindubusinessline.com/markets/stock-markets/travel-food-services-ipo-gmp-live-updates-travel-food-ipo-day-1-subscription-status/article69782266.ece

73.6p - IMO by COP 11th July - on the back of further Trump chaos

MartinG - Cheers 👌 - a good weekend was had. I trust it was decent for you also👍

I see the broker upgrades - quite puzzling mind... as what's to be celebrated when revenues are continuing on their downwards trajectory? 🤷 - be lucky if by FY2025 end this business is still scraping above £2bn annual revenue- I happen to think it'll fall slightly below that level.

DYOR - IMO

Found this site, with live updates, appears to be tracking the IPO progress in numbers:

https://www.thehindubusinessline.com/markets/stock-markets/travel-food-services-ipo-gmp-live-updates-travel-food-ipo-day-1-subscription-status/article69782266.ece

"FWIW danielh - you have posted some sensible points on occasion, albeit other times prose I've strongly disagreed with."

It means exactly what it says which is:

FWIW danielh - you have posted some sensible points on occasion, albeit other times 'written language in its ordinary form' I've strongly disagreed with.

I dont think this news is going to help baskets of equities invested into EU over the week ahead 😬:

https://www.theguardian.com/business/2025/jul/04/trump-threatens-17-tariffs-on-food-and-farm-produce-exports-from-europe

Danielh:

noun: prose

1. written or spoken language in its ordinary form, without metrical structure.

"a short story in prose"

You're looking for deeper meaning into something which is literally meant the same as it is defined.

Danielh - Some may dislike my views, and that's fair enough but... I'll always use evidence available and share my reasoning for anyone to openly challenge my stance. I guess it helps the most if those with an opposing view actually back up their alternative viewpoint with some sound evidence or links!

I always remain open minded to be persuaded by quality evidence, and a plausible alternative theory. Sadly though, tends to be the case that many opt to launch a barrage of nonsensical conspiracy theories or emotive responses loaded with insults.

I gave my reasons for my 'weak sell' on VOD - it's further German weakness (there will be recovery for sure but I think it'll take more time - after all ECB only just cut their rates and the benefits typically take 6+months to be felt).

FWIW danielh - you have posted some sensible points on occasion, albeit other times prose I've strongly disagreed with. Always best received when there's some evidence shared to back up ones case mind 👌

DYOR - All IMO

"Have you taken into account how much you lost selling VOD now 82.25p plus dividends, selling BT now 196p plus dividends, not buying EZJ, PNN and CPI, got it all 100% wrong and think you are so cool jumping on every little thing that you can on here while making a total mess of your own investments, take a look in the mirror first."

LOL - I sold my VOD holdings for around ~72p and VOD is only 9.8p higher today than it was back then... I took a fair bit of the cash and put it into other stocks, which have grown by 27.35p (when taking an average of multiple buying positions at their point of purchase compared to average of those positions today). i.e. nearly 3x increase that I could have received had I left the money invested in VOD. A proportion of the sale revenue I put into high interest Cash ISA to mitigate my equities risks. So, I've done pretty well all things considered. Most importantly, no losses - all profits ;-)

Conversely you admit there that you're "Still well down overall mostly because of the RI"

If you locked money up in CPI back in Aug 2023, and you've only just broken even on that Aug23 purchase... well then over all that duration inflation will have eroded your purchasing power, and the same figure in cash terms will today buy you far fewer goods/services today than it would have done back in Aug23.