Private Equity

PE Fund Investments

Fairfax unit ups stake in travel firm Thomas Cook India from 70.58 % to 72.34 %

BSE Filing  

Publicly-listed travel company Thomas Cook (India) has announced that Fairbridge Capital (Mauritius), its promoter entity and unit of Canadian private equity investor Fairfax Holdings, has increased its shareholding in the company to 72.34% (from 70.58%). Fairfax's equity stake rose via the conversion of the balance INR 132.9 crore Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS) held by Fairbridge Capital (Mauritius) Ltd (FCML) into 2.8 crore equity shares. On March 17, 2022, the company had converted INR 302 crore OCCRPS into 6.4 crore equity shares. Consequent to the latest conversion, Fairfax/Fairbridge's entire OCCRPS of INR 435.7 crore has been converted into 9.2 crore equity shares at INR 47.30 per share.