Thomas Cook India Limited Buyback 2020
(i) Thomas Cook (India) Ltd. (TCIL) is the leading integrated travel and travel-related financial services company in the country offering a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Insurance, Visa & Passport services, and E-Business. The company set up its first office in India in 1881.
(ii) The Thomas Cook India Group spanning 21 countries across 4 continents, a team of over 198,500 and a combined revenue in excess of Rs. 8700 crore (over $ 1.34 billion), operates leading B2C and B2B brands including, Thomas Cook, SOTC, TCI, Sita, Asian Trails, Allied T Pro, Australian Tours Management, Desert Adventures, Travel Circle International Limited, Private Safaris East & South Africa. The Group is today one of the largest travel service provider networks headquartered in the Asia-Pacific region.
(iii) Thomas Cook (India) Limited is promoted by Fairfax Financial Holdings Limited through its wholly-owned subsidiary, Fairbridge Capital (Mauritius) Limited and its controlled affiliates which holds 67.61%. Fairbridge is responsible for the execution of acquisition and investment opportunities in the Indian subcontinent on behalf of the Fairfax family of companies.
Buy Back Offer Deal:
|Buyback Type:||Tender Offer|
|Buyback Record Date:||Mar 07 2020|
|Buyback Offer Amount:||₹ 150|
|Date of Board Meeting approving the proposal:||Feb 28 2020|
|Date of Public Announcement:||Feb 28 2020|
|Buyback Offer Size:||6.90%|
|Buyback Number of Shares:||26086596|
|Price Type:||Tender Offer|
|Buyback Price:||₹ 57.50 Per Equity Share|
Details of Buyback:
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
|Amount Invested in Buyback||163304||163304.35||163304.35||163304.35|
|No. of Shares buyback||1148||1739||2609||3478|
Thomas Cook buyback offer withdrawn by company
Thomas Cook India
Update on Buyback announced in Feb –
– To buyback 6.9% equity at 57.5/sh (CMP at 29, 52w high at 75)
– To buyback shares worth 150 Cr via Tender route
– Board meet Sep 25, to consider and evaluate certain matters in relation to the Buyback.
When the buyback is going to start?
Sunpharma ka page?
Buyback is announced Right?
Yes, and even record date is also over.
avoid, it is an open market buyback.
Why rating is very low, what are the Pro,s and Con’s, could you please post.
The company do business in the tour and travel industry, and coronavirus will have a deadly impact on this business.
Pros- The AR could be high as promoters are not participating and good arbitrage is available from CMP.
Good price to buy stock on Monday for the buyback, as the majority shareholder, Fairbridge Capital Mauritius (A Fairfax Group company) will not participate in the buyback.
The company’s fortune has dwindled over a year. The company was trading at Rs. 125 last year, is now available at just 45.
However, the buyback is a premium of 40% from the CMP.
Total Public Shareholding is 12 Cr shares, Promoters are not offering their shares.
So, AR can come around 20-25%.
Leave a Reply
You must be logged in to post a comment.