India's Thomas Cook falls as large shareholder plans stake sale at discount via OFS

Thomas Cook (India)

30/11/2023 06:28

** Shares of Thomas Cook (India)  THOM.NS  hit 5% lower
circuit at 150.50 rupees apiece
    ** Integrated travel services company says its large
shareholder Fairbridge Capital (Mauritius) proposed to sell up
to 8.5% stake through an offer for sale (OFS)
    ** Fairbridge Capital to sell up to 32 mln shares at a floor
price of 125 rupees apiece, a discount of 21% from last close
    ** If there is oversubscription, Fairbridge Capital intends
to offload a further 8 mln shares
    ** Fairbridge held 72.34% stake in the company at the end of
September quarter, according to National Stock Exchange data
    ** Stock up ~111% in 2023 so far 

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))