Fairbridge Capital's stake in Thomas Cook (India) has grown to 72.34 %

20 Jun 2022 , 02:38 PM

Thomas Cook (India), an omni-channel travel firm, said on Monday (20-06-2022) that Fairbridge Capital (Mauritius), one of its promoters, has increased its stake in the company to 72.34 % from 70.58 %.

According to a statement from Thomas Cook (India), a sub-committe of the board of directors has approved the conversion of the remaining Rs 132.9 crore Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS) held by Fairbridge Capital (Mauritius) Limited (FCML) into 2.8 crore equity shares.

As a result, the whole Rs 435.7 crore OCCRPS has been converted into 9.2 crore equity shares at Rs 47.30 each, bringing the promoters’ stake to 72.34 percent. “I am pleased to announce the conversion of the remaining convertible preference shares into equity, bringing the promoter ownership to 72.34 percent from 70.58 percent now.”

Thomas Cook (India) Limited Managing Director Madhavan Menon remarked, “This underlines our promoters’ confidence in the swift recovery of the travel and allied services sector and the company’s development possibilities.”