Aditya Kumar Halwasiya picks up 13% stake in Tourism Fin Corp India for INR 247 crore, ET TravelWorld
Aditya Kumar Halwasiya, a retail individual investor, on Tuesday picked up a 13 per cent stake in Tourism Finance Corporation of India Ltd for INR 247 crore through an open market transaction. According to the block deal data available with the National Stock Exchange (NSE), Halwasiya purchased 1,18,02,094 shares, amounting to a 13.02 per cent stake in the Tourism Finance Corporation of India Ltd (TFCIL). The shares were bought at an average price of INR 209.75 apiece, taking the deal value to INR 247.55 crore.
TFCI a premier tourism financing institution, acting as a catalyst in developing tourism and social infrastructure for over three decades.
Meanwhile, TFCIL promoters Koppara Sajeeve Thomas and Pranasatree Holdings Pte, and public shareholders Varanium Capital Advisors and Varanium India Opportunity offloaded the shares of the company.
Varanium India Opportunity exited the firm by selling its entire 3.43 per cent stake in the firm.
The proceeds of INR 45 crore from the fresh issue from the ixigo IPO will be allocated for working capital requirements, while INR 26 crore will be invested in technology, including cloud and server hosting, artificial intelligence, and customer engagement. Additionally, funds will be earmarked for potential acquisitions and general corporate purposes.
On Tuesday, shares of Tourism Finance Corporation of India rose 4.98 per cent to close at INR 220.20 apiece on the NSE. In a separate block deal on the NSE, Eriska Investment Fund offloaded 23.50 lakh shares of Jindal Saw for INR 122 crore through an open market transaction. Nippon India Mutual Fund (MF), Samco MF, Copthall Mauritius Investment and Societe Generale were the buyers of Jindal Saw shares.
Eriska Investment Fund sold 23.50 lakh shares at an average price of INR 521 apiece, taking the deal value to INR 122.43 crore, as per the block deal data on the NSE.
Shares of Jindal Saw gained 2.27 per cent to settle at INR 537.10 apiece on the NSE.
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