The proposed composite scheme of arrangement has been submitted to the National Company Law Tribunal in Mumbai following board approval in March. Alongside the planned operational split, the group is evaluating inorganic growth opportunities to bolster its corporate travel, leisure, and forex capabilities. These moves coincide with an operational rebound in India, where the travel business achieved a 3.8 percent EBIT margin in the second quarter of FY27. Management now anticipates 30 percent forward bookings for India leisure travel in the third quarter of FY27.
Key points
Regulatory and shareholder approvals are still required before the hospitality division d…: Regulatory and shareholder approvals are still required before the hospitality division demerger can be finalized.
Leadership is targeting potential acquisitions and strategic partnerships with a particul…: Leadership is targeting potential acquisitions and strategic partnerships with a particular focus on technology-led platforms.
Domestic and short-haul trips are driving a sharp recovery for the India travel business…: Domestic and short-haul trips are driving a sharp recovery for the India travel business despite elevated airfares and input costs.
Sources checked by our analysis pipeline: 1
In an interview with PTI, Mahesh Iyer, Managing Director and CEO of Thomas Cook (India) Ltd, said the company expects the scheme to become effective by mid-FY28.
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"The application in respect of the composite scheme of arrangement has been filed before NCLT Mumbai. Accordingly, we expect the scheme to become effective by mid of FY28. However, the same is subject to the requisite regulatory and shareholder approvals," Iyer shared.
In March, the Board of Thomas Cook (India) Ltd (TCIL) approved a proposal for the demerger of the company's Resorts and Resort Management business into Sterling Holiday Resorts Ltd (SHRL) and a subsequent capital restructuring of TCIL.
Separately, on the company's inorganic growth strategy, Iyer said, Thomas Cook India remained open to exploring acquisitions and strategic partnerships that could strengthen its capabilities and accelerate growth across its businesses.
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"We remain open to exploring strategic partnerships and acquisitions that…
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