Thomas Cook India to redeem Rs 125-cr preference shares

Travel services provider Thomas Cook India today said its board has approved redemption of 12.50 crore non-convertible cumulative redeemable preference shares aggregating to Rs 125 crore.
They would be redeemed out of the profits of the company, Thomas Cook India said in a BSE filing.
The company's board has approved redemption of 12.50 crore non convertible cumulative redeemable preference shares (NCCRPS) of Rs 10 each at par aggregating to Rs 125 crore, along with such dividend as may be due, it said.
These NCCRPS were issued and allotted on a private placement basis and listed with the BSE and NSE, it added.

The board has also approved December 28, 2017 or any other date as may be approved by the stock exchanges, as the date for redemption of NCCRPS, it added.
Shares of Thomas Cook India today closed at Rs 239.70 on BSE, down 1.20 per cent from its previous close.