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Thomas Cook (India) Announces Rights Issue

Thomas Cook (India) Limited (TCIL), a leading travel and financial services provider in the country, announced their Rights Issue today. The Board of Directors approved in principle the company’s Rights Issue amounting to Rs 200 crore. The proceeds of the Rights Issue will be used for Redemption of the Preference Shares of Rs 10.5 crore and redemption premium of Rs 10.5 crore and the balance funds will be utilised for working capital.

Commenting on the Rights Issue, Madhavan Menon, Managing Director, Thomas Cook (India) Ltd. said, “The rights issue will help us restructure our capital structure to prepare us for the next stage of growth.” The ratio and the price of the issue has not yet been decided, and will be intimated at a later date.

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