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The challenges of running a budget hotel chain in India forced the decade-old company to quietly shift its focus to a travel management platform for corporate travellers. Now it must face challenges of another kind.

The 15-year-old company has bought one brand after another in the hope of growing fast. That plan has fallen flat on its face, but there’s no stopping Wingreens.
A little over a decade after it was founded, the company that introduced India to Greek yogurt has pulled off a turnaround. But competition is rising fast and Epigamia can’t afford to simply rest on its laurels.
A public listing will help clean up the hospital chain’s balance sheet after the costly Sahyadri acquisition. But depressed metrics, integration risks and lofty valuations make this far from a clean turnaround story.