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Halwasiya acquires 15.50% stake in Tourism Finance Corporation of India after board approves fresh allotment

Halwasiya acquires 15.50% stake in Tourism Finance Corporation of India after board approves fresh allotment

India Blooms news Service | @indiablooms | 10 Apr 2024, 04:06 am

Mumbai: The Board of TFCIL further approved allotment of 22,23,000 equity shares to Aditya Kumar Halwasiya at a price of Rs 225 per equity share at its Meeting held on the April 5, 2024.

This takes Aditya Kumar Halwasiya's shareholding in TFCIL to approximately 15.50% and effectively clears the path for him to steer the company going forward.

"I have full faith in the competent Board and Management of TFCIL, I am very upbeat on the journey ahead for the company and am proud to be a stakeholder of TFCIL just as Bharat is in the midst of a Multi-Year Tourism Boom!" said Aditya Kumar Halwasiya when asked to comment on these significant developments at TFCIL.

Aditya Kumar Halwasiya is also the promoter of the Publicly Listed Indian Contraceptive Manufacturer Cupid Limited and the third generation scion of the Halwasiya Business Family out of Kolkata, India.

In another development, Koppara Sanjeeve Thomas and GD Mundra both representing the former promoter group on the Board of Tourism Finance Corporation of India Limited (TFCIL) have stepped down as Directors on March 28 and April 5 of this year respectively.

TFCIL is a premier public financial institution that provides finance and advisory services to the tourism sector in India.

Set up in 1989, TFCIL also provides finance to educational institutions, the healthcare sector, non-banking financial companies, the real estate sector engaged in affordable housing schemes, services such as logistics and warehousing, renewable energy, and the manufacturing sector.

Over the last three decades, TFCIL has been instrumental in the development of over 50,000 star-category hotel rooms and other tourism attractions in India including resorts in Kerala, Goa, and other states across India.

TFCIL has also been associated with the Palace on Wheels luxury train.

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