Thomas Cook (India), India's largest integrated travel and travel related financial services company, received the trading approval from the Stock Exchanges in respect of its Institutional Placement Programme (IPP) and the shares are now tradable on the Exchanges with effect from May 10, 2013.
Despite the overall weak market sentiment, particularly in the underlying secondary market, Thomas Cook’s IPP received orders worth Rs 224 crore (for allotment of 34,379,606 shares) at Rs 53.50. As against an issue size of Rs 184 crore, the issue was oversubscribed by 22% to Rs 224 crore, Noteworthy also, that against a price band of Rs 50.50 to Rs 53.50 per share, the issue closed at Rs 53.60 per share the highest in the band.
The IPP was undertaken to comply with the regulatory requirement of limiting promoter holding to 75%. Upon issue and allotment of equity shares under the IPP, the shareholding of the promoter, Fairbridge Capital (Mauritius), in Thomas Cook (India), has been reduced from 87.1% to 75% in line with the conditions prescribed by SEBI, vide its letters dated March 8, 2013 and April 15, 2013, respectively.
The issue size amounting to approximately 13.89% of the post-issue revised paid-up share capital saw active participation from a mix of marquee domestic and global investors such as ICICI Prudential Life Insurance Company, Citigroup Global Markets Mauritius, Tiger Global Mauritius Fund, Morgan Stanley Mauritius Company, Copthall Mauritius Investment and India Capital Fund. ICICI Securities and India Infoline were the lead managers to the issue.
Thomas Cook is the largest integrated travel and travel related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services and E-Business.
| Company Name | CMP |
|---|---|
| IRCTC | 563.70 |
| Thomas Cook (India) | 105.80 |
| TBO Tek | 1290.00 |
| Transcorp Intl. | 26.70 |
| Le Travenues Techno | 179.50 |
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