Shares of Thomas Cook (India) extended their winning run to the third straight session on Monday as they rose by 6 per cent in intra-day trade to Rs 50.25 on the BSE following the firm s fund-raising plans. In the three days, shares of the firm have added over 10 per cent.
The travel services firm on Saturday said it plans to raise up to Rs 450 crore via the issue of Optionally Convertible Cumulative Redeemable Preference shares (OCCRPS) through private placement.
The company s board approved the issuance of up to 45,00,00,000 OCCRPS of the face value of 10 each to Fairbridge Capital (Mauritius) Ltd, the promoter of the company, through private placement on a preferential basis, Thomas Cook said in a regulatory filing.
The company s board has approved issuance of up to 45cr OCCRPS of the face value of Rs10 each to Fairbridge Capital (Mauritius) Ltd. Thomas Cook (Mauritius) has completed the buy-back of 38% of its shares from its Promoter.