Thomas Cook has fixed a price band of Rs 50.50–53.50 for its institutional placement programme to open on May 3.
The company plans to allot up to over 3.43 crore shares to institutional investors to comply with SEBI’s minimum public shareholding norm of 25 per cent. The offer size includes an over allotment option of 10 per cent.
The company plans to deploy the IPO proceeds for strategic relationships and investments, repayment of loans to improve its leveraging strength, acquisitions, capital expenditure and working capital.
ICICI Securities and IIFL are the book running lead managers to the issue and TSR Darashaw, the registrar.
On Tuesday, the scrip closed at Rs 51.25 on the BSE, up one per cent.