Stocks

TFCI raises ₹65 crore via pref issue

Our Bureau Chennai | Updated on October 12, 2021

Tourism Finance Corporation of India has secured ₹65.18 crore by way of preferential allotment of 96.55 lakh shares at ₹67.50 a share. TFCI will use the funds to boost its strong position in the lending ecosystem and to accelerate its strategic priorities, the company said. The financing round was led by the promoter group. Other investors included Anurag Bagaria (Chairman & CEO, Kemwell Biopharma Private Ltd) and PS Jayakumar (ex-MD & CEO, Bank of Baroda). The stock, however, on Tuesday closed 0.26 per cent lower at ₹75.40 on the BSE.

Published on October 12, 2021

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