Trend

Off On A New Trip

Fairbridge Capital’s former CEO Harsha Raghavan sells stake in Thomas Cook

Thomas Cook has been the talk of the town since May this year. Harsha Raghavan, the then CEO and managing director of its parent and promoter entity Fairbridge Capital, has quit the investment company to start a private equity firm. Following his exit, Raghavan sold 472,000 shares worth Rs.126.15 million from June 29 to July 2, 2018. After the sale, Raghavan still holds 118,000 shares worth Rs.32.33 million.

However, he was not the only one who sold shares. Thomas Cook’s managing director, Madhavan Menon sold 88,000 shares worth Rs.25.08 million on June 14, 2018 and has been on a selling spree since past two years.

Fairbridge currently holds 67% in the company. It had last acquired 81.17 million shares off the market in 2015. Fairbridge has not sold any of its holding.

The Nifty service sector index has gained 9.51% since the beginning of the year and Thomas Cook’

unsub

You don’t want to be left behind. Do you?

Our work is exclusively for discerning readers. To read our edgy stories and access our archives, you’ve to subscribe