Thomas Cook India arm acquires shares in Sterling Holiday Resorts

Thomas Cook Insurance Services (India) Limited ("Acquirer"), a subsidiary of Thomas Cook (India) Ltd has been allotted 20,650,000 equity shares of Sterling Holiday Resorts (India) Limited ("Company") on March 14, 2014 at a price of INR 90.49/- (Rupees ninety and forty nine paise only) per equity share, aggregating to INR 1,868,618,500/- (Rupees one thousand, eight hundred and sixty eight million, six hundred and eighteen thousand and five hundred only). The Acquirer has acquired certain rights in relation to the Company in accordance with the Subscription Agreement dated February 07, 2014 entered between the Acquirer and the Company. Rights in relation to the aforesaid will be exercised in accordance with and subject to the provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended.

Shares of THOMAS COOK (INDIA) LTD. was last trading in BSE at Rs.82.25 as compared to the previous close of Rs. 79.8. The total number of shares traded during the day was 51073 in over 978 trades.

The stock hit an intraday high of Rs. 83 and intraday low of 80.5. The net turnover during the day was Rs. 4183021.

Source : Equity Bulls

Keywords