Promoters’ [ Fairbridge Capital (Mauritius) Limited ] holding in Thomas Cook (India) Limited increases to 72.34%
Mumbai, June 20, 2022: The Sub-Committee of the Board of Directors of Thomas Cook (India) Limited (the Company), has approved the conversion of the balance Rs. 132.9 crore Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS)
Mumbai, June 20, 2022: The Sub-Committee of the Board of Directors of Thomas Cook (India) Limited (the Company), has approved the conversion of the balance Rs. 132.9 crore Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS) held by Fairbridge Capital (Mauritius) Limited (FCML), Promoters of the Company, into 2.8 crore equity shares.
The Company had earlier converted Rs. 302 crore OCCRPS into 6.4 crore equity shares on March 17, 2022.
Consequently, the entire OCCRPS of Rs. 435.7 crore has been converted into 9.2 crore equity shares at Rs. 47.30 per share, thereby increasing the Promoters’ shareholding to 72.34%.
The conversion will serve to enhance the long-term capital base of the Company, strengthen the balance sheet and reflects the Promoters’ continued confidence in the Company.
“I am glad to announce the conversion of the balance convertible preference shares into equity, thereby increasing the Promoter shareholding from the present 70.58% to 72.34%. This reflects the confidence of our Promoters in the rapid recovery of the travel & allied services sector and the Company’s growth prospects.”Mr. Madhavan Menon, Managing Director, Thomas Cook (India) Limited
About Thomas Cook (India) Limited:
Set up in 1881, Thomas Cook India) Limited. (TCIL) is the leading omnichannel travel company in the country offering a broad spectrum of services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Value Added Services, Visa and Passport services. It operates leading B2C and B2B brands including Thomas Cook, SOTC, TCI, SITA, Asian Trails, Allied TPro, Australian Tours Management, Desert Adventures, Luxe Asia, Travel Circle International Limited (TCI 勝景遊), Sterling Holiday Resorts Limited, Distant Frontiers, TC Tours, Digiphoto Entertainment Imaging (DEI), Go Vacation, Private Safaris East & South Africa
As one of the largest travel service provider networks headquartered in the Asia-Pacific region, The Thomas Cook India Group spans 25 countries across 5 continents
TCIL has been felicitated with CNBC-TV18 & ICICI Lombard India Risk Management Award – Travel & Leisure Category 2022 & 2021, The Best Travel Agency – India at TTG Travel Awards 2019, The Best Outbound Tour Operator at the Times Travel Awards 2019 & 2018 and Leading Company with Cutting Edge Travel Innovation at the Times Travel Awards 2018, Silver award for Asia’s Best Integrated Report (First Time) category at the Asia Sustainability Reporting Awards 2019, Best Risk Management-Framework & Systems at the India Risk Management Awards 2019; Best Cash Management Solution – India at the Asset Triple A Treasury, Trade, Supply Chain & Risk Management Awards 2018, Best Outbound Tour Operator at the SATTE Awards 2019, Excellence in Domestic Tour Operations at the SATTE Awards 2018, The French Ambassador’s Award for Exemplary Achievements in Visa Issuance 5 years in a row and the Condé Nast Traveller – Readers’ Travel Awards from 2011 to 2019.
CRISIL has reaffirmed the rating on debt programmes and bank facilities of Thomas Cook (India) Limited – ‘CRISIL A+/Negative on the long-term bank facilities of TCIL and CRISIL A1 rating on the short-term bank facilities and short- term debt of the Company. For more information, please visit www.thomascook.in
Fairbridge Capital (Mauritius) Limited, a subsidiary of Fairfax Financial Holdings Limited promotes TCIL by holding 72.34% of its paid-up capital and is responsible for the execution of acquisition and investment opportunities.