Thomas Cook (India) is trading higher by 4% at Rs 51.50 after the company said that it has received market regulator the Securities and Exchange Board of India (Sebi) approval for raising funds via institutional placement programme (IPP) issue.
"The Sebi has acceded to the request of the company for the issuance of up to 34.38 million equity shares, aggregating to 13.89% of its equity share capital by way of an institutional placement programme," Thomas Cook said in a regulatory filing.
As on December 31, 2012, the promoter Fairbridge Capital Mauritius holds 87.1% sake in the travel support services company.
The stock opened at Rs 50.25 and hit a high of Rs 52.40 on NSE. As many as a combined 119,722 shares have already changed hands on the counter so far against an average sub 60,000 shares that were traded daily in past two weeks on NSE and BSE.
"The Sebi has acceded to the request of the company for the issuance of up to 34.38 million equity shares, aggregating to 13.89% of its equity share capital by way of an institutional placement programme," Thomas Cook said in a regulatory filing.
As on December 31, 2012, the promoter Fairbridge Capital Mauritius holds 87.1% sake in the travel support services company.
The stock opened at Rs 50.25 and hit a high of Rs 52.40 on NSE. As many as a combined 119,722 shares have already changed hands on the counter so far against an average sub 60,000 shares that were traded daily in past two weeks on NSE and BSE.
