No intention to sell further stake in Quess Corp, says Thomas Cook

Thomas Cook will sell 5.42 percent stake in their subsidiary Quess Corp via Rs 600 crore offer for sale. This will bring the promoter holding in Quess Corp down to 75.38 percent from 81.52 percent.

In an interview to CNBC-TV18, Madhavan Menon, Chairman & MD of Thomas Cook spoke at length about the stake sell.

Menon said there is no intention to sell further stake in Quess Corp.

Talking about business, he said tourist season is picking up and forward bookings have seen a significant growth.

On Quess Corp front, he said we restricted floor price to Rs 800 because wanted to honour Quess' qualified institutional placement (QIP) investors.

We originally invested in Quess Corp at Rs 132 per share, said Menon.

Watch accompanying video for more details.