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Informist, Friday, Mar. 20, 2026

--Thomas Cook board approves merger by absorption of 3 cos

--Thomas Cook board approves demerger of Sterling Holiday Resorts 

NEW DELHI – The board of Thomas Cook (India) Ltd. Friday approved a proposal for the demerger of its resorts and resort management business into Sterling Holiday Resorts Ltd. Through this demerger, the company aims to streamline its existing capital structure and improve its earnings per share, the travel company said in a press release.

The board has also approved the merger of three wholly-owned subsidiaries--TC Visa Services (India) Ltd., Jardin Travel Solutions Ltd., and Borderless Travel Services Ltd.--into the parent company, the company said. "TCIL (Thomas Cook) will in parallel, merge 3 dormant and non-operating subsidiaries to reduce administrative costs," the company said.

As part of the demerger, shareholders will get 0.81 shares of Sterling Holiday Resorts for each share held in Thomas Cook, the company said, adding that Thomas Cook will continue to hold its shares in Sterling Holiday Resorts post the demerger. The shares of Sterling Holiday Resorts will be listed on the National Stock Exchange and BSE, the release said.

For the year ended December, the turnover of Sterling Holiday Resorts was INR 700 million, representing approximately 0.4% of Thomas Cook India's total standalone turnover for the same period. Thomas Cook India will also transfer six resorts operating under the brand name Nature Trails into the demerged entity.

"The demerger and restructuring also paves the way for a future listing of SHRL (Sterling Holiday Resorts Ltd.), enabling it to chart its own course in the rapidly expanding hospitality space in India," said Mahesh Iyer, managing director and chief executive officer of Thomas Cook India.

Following the changes in the business, Thomas Cook said it will consolidate four of its existing shares of face value INR 1 each into one share having a face value of INR 4 each. It will then reduce the face value of these shares to INR 3 apiece from INR 4 per share, the company said.

For the December quarter, Thomas Cook had reported consolidated net profit of INR 417 million on revenues of INR 21.46 billion. Friday, shares of the company ended INR 103.34 on the National Stock Exchange, up 4.63%.  End

Reported by Shweta

Edited by Akul Nishant Akhoury

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