ANI
22 Feb 2021, 11:25 GMT+10
Mumbai (Maharashtra) [India], February 22 (ANI): Shares of Thomas Cook India rose by nearly 1.7 per cent on Monday after the travel services firm said it plans to raise Rs 450 crore via the issue of optionally convertible cumulative redeemable preference shares (OCCRPs) through private placement.
The company's board of directors has approved the issuance of up to 45 crore OCCRPs of the face value of 10 each to promoter Fairbridge Capital Mauritius Ltd through private placement on a preferential basis, it said in a statement.
The size of the issue is up to Rs 450 crore subject to the approval of regulatory, statutory authorities and shareholders of the company, it added. The board also authorised a committee to decide on various matters related to the issuance of such OCCRPs.
Besides, as a result of the proposed issue, the board approved an increase in authorised preference share capital from Rs 250 crore to 500 crore and consequential changes to the capital clause of the company's memorandum of association.
Thomas Cook India Group is one of the largest travel and financial service provider networks headquartered in the Asia Pacific region, spanning 29 countries and five continents with a team of over 9,700.
Earlier this month, it reported a consolidated net loss of Rs 66 crore for the third quarter ended December 2020 due to the continuing impact of Covid-19. It had posted a net profit of Rs 8.6 crore in the corresponding period previous fiscal.
At 10:40 am, the company's stock was trading 1.69 per cent higher at Rs 48.15 per unit. (ANI)Get a daily dose of Pakistan Telegraph news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Pakistan Telegraph.
More InformationLONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction...
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...
MOSCOW, Russia: Just hours after his sudden dismissal by President Vladimir Putin, Russia's former transport minister, Roman Starovoit,...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round...
RIO DE JANEIRO, Brazil: At a two-day summit over the weekend, the BRICS bloc of emerging economies issued a joint declaration condemning...