Cox & Kings is reportedly exploring the possibility to launch an initial public offering (IPO) for its education tour business in Europe and Australia on hopes of generating better value for the company and its shareholders.
The education tour business is part of the company’s operations, after it acquired the UK-based Holidaybreak for Rs 2,300 crore in 2011. The education segment now contributes 30% to company’s revenue and 35% of earnings before interest tax depreciation and amortization (Ebitda) on a consolidated basis.
Cox and Kings is engaged in providing travel management solutions. Its services include destination management, outbound tourism, business travel, insurance and conference solutions. The firm also offers domestic holidays, trade fairs, foreign exchange and insurance.
