Thomas Cook jumps 8% on IKYA Human Capital acquisition

Travel services company Thomas Cook (India) rose as much as 8 percent in early trade on Wednesday after acquisition of HR solutions company.

The company announced that it has signed an investment agreement to acquire a 74 percent stake in IKYA Human Capital Solutions Private Limited for consideration of Rs 256 crore. 

Managing Director Madhavan Menon said, "Post the acquisition, IKYA would remain a standalone independently managed entity supervised by Thomas Cook (India) with the assistance of the parent company Fairbridge Capital."

Ikya offers specialised human resources services to over 500 Indian clients through 32 offices, with 1400 team members and over 54,000 associates.
 
At 11:51 hours IST, shares gained 3.06 percent to Rs 55.50 amid hefty volumes on Bombay Stock Exchange.

Market capitalisation of the company currently stands at Rs 1,183.03 crore.

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