Fairbridge Capital Mauritius Ltd completes OFS of 40 Mn. equity shares of Thomas Cook India Ltd

Fairbridge Capital (Mauritius) Limited (FCML) has completed an Offer for Sale (OFS) of 40 Mn. equity shares of Thomas Cook (India) Limited (TCIL), valued at Rs 5.58 Bn.

- In March 2021, FCML injected capital of USD 60 Mn. to assist TCIL with the disruption to its business that resulted from the global pandemic

- Now that TCIL's business has fully recovered, as is reflected in its financial performance, the Offer for Sale has resulted in the return of USD 67.2 Mn.* to FCML

- FCML continues to be the majority shareholder and promoter of the TCIL Group and holds 300.3 Mn. shares - which is higher than the number of shares it held prior to the funds injected in March 2021 (248.2 Mn. shares), while increasing the floating stock available to minority shareholders

Commenting on the completion of the Offer for Sale, Mr. Prem Watsa - Chairman & CEO of Fairfax Financial Holdings Limited said: "Thomas Cook India has been an important member of the Fairfax family since 2012 and we remain committed to maintaining our position as the majority shareholder and promoter of the company. The recovery of the business post the global pandemic is in line with the Tourism & Hospitality industry globally. I am confident that the company will continue to benefit from the India growth story and the rebound of the Tourism & Hospitality industry worldwide."

Shares of Thomas Cook (India) Limited was last trading in BSE at Rs. 146.70 as compared to the previous close of Rs. 150.35. The total number of shares traded during the day was 2177675 in over 10610 trades.

The stock hit an intraday high of Rs. 149.20 and intraday low of 142.85. The net turnover during the day was Rs. 314310382.00.

(*Based on the exchange rate of Rs 83 to USD 1)

Source : Equity Bulls

Keywords

ThomasCookIndia INE332A01027 FairbridgeCapitalMauritius OFS StakeSale