The travel service company, Thomas Cook India has announced its plan to raise up to Rs 450 crore through issuance of Optionally Convertible Cumulative Redeemable Preference Share (OCCRPS) on private placement.
In a filing with the exchange, Thomas Cook said, “The company’s board has approved the issuance of up to 45,00,00,000 OCCRPS of the face value of Rs 10 each to Fair bridge capital (Mauritius) Ltd, the promoter of the company through private placement on a preferential basis.”
“The size of the issue is up to Rs 450 crore subject to the approval of regulatory, statutory authorities, and shareholders of the company,” the filing added.
