Thomas Cook India to raise Rs 200 cr via rights issue

Travel and foreign exchange services provider Thomas Cook (India) today said it will raise about Rs 200 crore through rights issue to its existing shareholders.     

Thomas Cook (India) would issue equities in the ratio of 35 shares for every 100 share held in the company, it said in a filing to the Bombay Stock Exchange.     

Following the announcement, the company's shares surged 9.87% to a high of Rs 50.65 in the afternoon trade on the BSE.     

Under the rights-issue plan, Thomas Cook (India) would issue 5.62 cr shares, at a price of Rs 35.50 each, aggregating to over Rs 199.78 cr, the filing said.     

The company has fixed December 27 as the record date for the purpose of allotting rights issue.      Shares of the company were later trading with a gain of 8.46% at Rs 50 on the BSE.