Thomas Cook India plans to raise up to Rs 450 cr through private placement

Travel services firm Thomas Cook India on Saturday said it plans to raise up to Rs 450 crore via issue of Optionally Convertible Cumulative Redeemable Preference shares (OCCRPS) through private placement.

The company's board has approved issuance of up to 45,00,00,000 OCCRPS of face value of 10 each to Fairbridge Capital (Mauritius) Ltd, the promoter of the company, through private placement on a preferential basis, Thomas Cook said in a regulatory filing.

The size of the issue is up to Rs 450 crore subject to the approval of regulatory, statutory authorities and the shareholders of the company, it added.