Tourism Finance Corporation of India Limited, has announced that its board has approved capital raise proposal by way of issue and allotment up to 96,55,700 fully paid-up equity shares of face value of Rs 10 each at an issue price of Rs 67.50 including a premium of Rs 57.50 each for an allotment size of Rs 65.18 crore by way of preferential allotment.
The transaction is subject to customary regulatory approvals as well as shareholder approval in ensuing Annual General Meeting (AGM). Prime Securities has been appointed as advisors to TFCI on this fundraise.
Anirban Chakraborty, Managing Director said, ‘’This investment will not only help us to meet our goals but also help in accelerating our strategic priorities, including further expanding our footprint and driving the Company’s growth. This fundraise of Rs 65.18 crores will boost our strong position in the lending ecosystem. TFCI are well-capitalized with a CAR of 41.95 percent as on June 30, 2021."
