Tourism Finance shares surge 5% after Aditya Kumar Halwasiya acquires 13% stake

Tourism Finance Corporation of India witnessed a significant uptick of 5 percent in morning trade on the NSE, propelled by investor Aditya Kumar Halwasiya’s acquisition of a 13 percent stake in the company. At 11:21 am, the stock continued its positive momentum, trading at ₹231.20.

According to exchange data, Halwasiya secured 1,18,02,094 equity shares of Tourism Finance Corporation of India at an average price of ₹209.75 each. Concurrently, foreign investor Varanium India Opportunity divested its entire stake of 30,97,461 equity shares, while Varanium Capital Advisors also offloaded 10,04,400 equity shares. Promoters Pransatree Holdings Pte and Koppara Sajeeve Thomas divested 42,56,100 and 34,44,133 equity shares respectively, at the same average price per share.

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