Thomas Cook India fixes price band of Rs. 50.50 to Rs. 53.50 for QIP

The IPP Committee of the Board of Directors of Thomas Cook (India) Ltd has, by way of a resolution dated April 30, 2013, fixed the issue opening date as May 3, 2013 and the price band at INR 50.50 (Floor Price) to INR 53.50 (Cap Price) per equity shares for the proposed issue of up to 31,254,188 equity shares of face value INR 1 each of the Company with an over allotment option of up to 3,125,418 additional equity shares of the Company such that total issue size is up to 34,379,606 equity shares of the Company to qualified institutional buyers ("the Issue"). In line with letters of the Securities and Exchange Board of India ('SEBI') dated March 8, 2013 and April 15, 2013 ("SEBI Letters") and in terms of the preliminary offer document dated April 24, 2013 in relation to the Issue, the floor price has been determined in compliance with the pricing requirements specified in Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended ("SEBI Regulations"). Further, in accordance with the conditions stipulated in the SEBI Letters, the number of allottees in the Issue may be less than 10, subject to compliance with the requirements of the provisions of Regulation 87(1) of the SEBI Regulations.

Shares of Thomas Cook (India) Ltd was last trading in BSE at Rs.51.25, up by Rs.0.60 or 1.18%. The stock hit an intraday high of Rs.51.50 and intraday low of Rs.50.15.

The total traded quantity was 5866 compared to 2 week average of 5302.

Source : Equity Bulls

Keywords