Cox and Kings plans to raise Rs 350 crore via QIP: Report

Cox and Kings is reportedly planning to raise about Rs 300-350 crore via qualified institutional placements (QIP). Axis Capital is likely to be banker to the QIP. The company is planning to raise capital in a bid to cut debt on books.

Moreover, the company is targeting to become one of the largest leisure travel players globally and is also keen to expand its education tourism business in the other geographies.

Cox & Kings is the longest established travel company in the world since 1758. It operates across 4 continents and 25 countries. In India, Cox & Kings has 12 branch sales offices and 150 Franchisee located across the country.