Tourism Finance Corp gains as investor Aditya Halwasiya picks up 13% stake

Shares of Tourism Finance Corporation of India gained 5 percent in morning trade on the NSE after investor Aditya Kumar Halwasiya picked up 13 percent stake in the company. At 10am, the stock was trading at Rs 231.20.

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According to exchange information, Halwasiya  picked up 1,18,02,094 equity shares of Tourism Finance Corporation of India at an average price of Rs 209.75 each. However, foreign investor Varanium India Opportunity exited the stock by selling its entire stake of 30,97,461 equity shares. Varanium Capital Advisors also offloaded 10,04,400 equity shares. In addition, promoters Pransatree Holdings Pte sold 42,56,100 equity shares and Koppara Sajeeve Thomas sold 34,44,133 equity shares at an average price of Rs 209.75 per share.

As of December 2023, promoters Pransatree Holdings held 8.81 percent stake in the company while Koppara Sajeeve Thomas had 4.92 percent stake. Varanium India Opportunity previously held 3.43 percent stake.

Tourism Finance Corporation is engaged in financing, corporate loans, working capital demand loan and structured financing within the hospitality segment. Over the last one year, the stock has gained over 200 percent.

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