Thomas Cook Promoter To Sell 6.8% Stake Via OFS

Fairbridge Capital (Mauritius) Ltd., a promoter entity of Thomas Cook India, will sell up to 3.2 crore shares, or 6.8%, via an offer for sale.

The promoter will sell an additional 80 lakh shares, or 1.7% stake, if the offer for sale is oversubscribed, it said in its exchange filing on Wednesday.

The floor price for the offer is set at Rs 125 per share, indicating a discount of 21.08% to the stock's previous close of Rs 158.40 per share on the NSE.

The offer is set to open on Nov. 30 and close on Dec. 1.

As of September, Fairbridge Capital (Mauritius) held 72.34% stake in Thomas Cook. After the initial sale, their stake will be trimmed down to 65.54%.

IIFL Securities will be the settlement broker for the offer, the company said.

The Mumbai-based omnichannel travel company provides a broad spectrum of services, including foreign exchange; corporate travel; Meeting, Incentives, Conferences and Exhibitions or MICE; leisure travel; value added services and visa assistance.

The Thomas Cook India Group spans 28 countries, across five continents.

Shares of Thomas Cook India closed 4.55% higher at Rs 158.4 apiece, as compared with a 1.04% advance in the Nifty 50.