TFCI board approves capital raise of INR 65.18 crores led by marquee investors

Delhi, September 6, 2021 (GNI): 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 (Ninety Six Lakh Fifty Five Thousand Seven Hundred) fully paid up equity shares of face value of Rs.10/- each at an issue price of Rs.67.50/- (Rupees Sixty Seven and Fifty paise only) including a premium of Rs.57.50/- (Rupees Fifty Seven And Fifty paise only) each for an allotment size of Rs.65.18 crore by way of preferential allotment to the entities/persons mentioned herein.
Sr. No Name of the Allottee Category No. of Equity Shares
1 Pransatree Holdings Pvt. Limited Promoter Group (Body Corporate) 37,03,700
2 GKK Capital Markets Pvt. Ltd. Non-Promoter (Body Corporate) 20,00,000
3 Max Medisupport LLP Non-Promoter (Limited Liability Partnership) 29,62,000
4 Kemwell Private Limited Non-Promoter (Body Corporate) 7,40,000
5 Mr. PS Jayakumar joint holder with Ms. Archana Swami Non-Promoter (Individual) 2,50,000

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.
Commenting on the Fund Raise, Mr. Anirban Chakraborty, Managing Director said:
‘’We are pleased to welcome on board marquee investors who strongly believe in the growth and potential of the Company. We at TFCI are humbled by the opportunity, as 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 INR 65.18 crores will boost our strong position in the lending ecosystem.

These investments reaffirm the faith of the market has in TFCI even in this challenging environment, that it is well poised to deliver profitable growth over the long term without compromising on portfolio quality.
We at TFCI are well-capitalized with a CAR of 41.95% as on 30th June 2021 and believe that our healthy financials complemented with a strong recovery path makes us well-positioned for achieving sustained growth momentum in the coming quarters as we continue to focus on business growth in diversified sectors while maintaining our leadership position in the hospitality sector.
We would also like to thank all our existing stakeholders for their continued support and assure them of achieving robust operational and financial performance with the full-fledged revival in demand across the economy,” stated in the press release.

About Tourism Finance Corporation of India Limited (TFCI) was set-up in 1989 as an All India Financial Institution, pursuant to the recommendations of “National Committee on Tourism”. With more than three decades of helping Indian tourism grow, the main objective of setting-up the specialized financial institution was to expedite the tourism infrastructure in the country by providing dedicated line of credit on long term basis to tourism related projects in the country. TFCI has successfully played the role of an investment catalyst for the tourism sector as well as in creating the necessary tourism infrastructure in the country.