Thomas Cook announced an Offer For Sale (OFS) for their promoter Fairbridge Capital (Mauritius). Shares of Thomas Cook India fell 5 percent on November 29 and closed at Rs 157.65, a day ahead of the proposed OFS.
The floor price for the offer is set at Rs 125 per equity share.
In their filing to the exchanges, Thomas Cook said Fairbridge Capital plans to sell 32,000,000 equity shares of the company which will come up to 6.8 percent of the total paid-up equity capital of the company on November 30. Non-retail investors can subscribe to the offer on November 30. Retail investors and non-retail investors, “who choose to carry forward their un-alloted bids from T day” (November 30), can bid on December 1, the company said in its regulatory filing.
The company also said there is an over-subscription option on December 1, where they can sell 8,000,000 equity shares of the company which will add up to 1.7 percent of the equity share capital. If the shares are oversubscribed, the total offer would come up to 40,000,000 equity shares or 8.5 percent of the equity capital of the company.
IIFL Securities will be acting as the settlement broker for the offer. Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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