Thomas Cook (India) Limited — JV/Acquisition, 20-03-2026: Demerger

Thomas Cook India (TCIL) is demerging its Resorts & Resort Management business into Sterling Holiday Resorts (SHRL). This strategic move aims to unlock value for TCIL shareholders and create a focused, separately listed entity in the fast-growing hospitality sector. SHRL will list on BSE & NSE. TCIL shareholders will receive 81 SHRL shares for every 100 TCIL shares. Additionally, TCIL plans to consolidate its shares (4x Re.1 into 1x Rs.4) and reduce face value to Rs.3. These steps are designed to streamline TCIL's capital structure and improve Earnings Per Share. Three dormant subsidiaries will also merge into TCIL to cut costs.