Jubilant FoodWorks parent withdraws royalty bid within hours

Jubilant Enpro, the parent of Domino's Pizza India's operator Jubilant FoodWorks (JFL), backtracked on charging a royalty from subsidiaries for using its brand name within hours after announcing the decision. This came after it sparked concerns about rewarding promoters at the expense of shareholders. Shares of Jubilant FoodWorks were down as much as 5.18% on Wednesday.