Thomas Cook Promoter Offloads 8.5% Stake Via Offer For Sale
Thomas Cook (India) Ltd.'s promoter entity, Fairbridge Capital (Mauritius) Ltd., reduced its 8.5% stake in the company via an offer for sale.
The promoter sold 4 crore equity shares of Thomas Cook, with a face value of Re 1 each, on Nov. 30 and Dec. 1, according to an exchange filing.
After the stake sale, the promoters' stake will be reduced from 72.34% to 63.84%.
The company informed the exchanges that its promoter will sell 6.8% via an offer for sale on Nov. 29. It said that it may exercise the option of selling an additional 80 lakh shares, or a 1.7% stake, if the offer for sale is oversubscribed.
The Mumbai-based omnichannel travel company provides a broad spectrum of services, including foreign exchange, corporate travel, meetings, incentives, conferences and exhibitions, leisure travel, value-added services and visa assistance.
The Thomas Cook India Group spans 28 countries across five continents.
Shares of Thomas Cook India closed 4.99% higher at Rs 154.55 apiece, as compared with a 2.07% advance in the Nifty 50.
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