India's DreamFolks denies reports of banks seeking direct airport lounge partners

Airport services aggregator DreamFolks Services DREM.NS closed 10.28% lower at 236.05 rupees

Stock's worst day in more than four months

Economic Times and Press Trust of India reports said major Indian banks Axis Bank AXBK.NS and ICICI Bank ICBK.NS and card network Mastercard MA.N are looking to move away from DREM and establish direct partnerships with airport lounges

Reports add that others may follow suit

*DreamFolks denies the reports in an exchange filing after markets close, says contract negotiation is part of regular business and relationships with all partners remain intact

Axis Bank, ICICI Bank and Mastercard did not immediately respond to Reuters' request for comment

In September, DREM services were temporarily disrupted, impacting thousands of bank and card customers

DREM shares down 34.6% YTD