Saving Thomas Cook (India) during Covid brings $7 million gain to another Prem Watsa group firm
Monday, 4 December 2023 Fairbridge Capital (Mauritius) Limited (FCML) on Monday said it has completed an offer for sale (OFS) of four crore equity shares of Thomas Cook (India) Ltd (TCIL) valued at Rs 558 crore. Part of Indian-Canadian billionaire businessman Prem Watsaβs Fairfax group, FCML had in March 2021 infused $60 million into TCIL to help it survive the disruption caused by Covid. With travel recovering now post pandemic, the OFS has resulted in FCML getting back $67.2 million.
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In a recent Economic Survey 2023-24 presented by Finance Minister Nirmala Sitharaman, the Indian economy is reported to be on a strong footing, showcasing remarkable resilience in the face of geopolitical challenges. This 476-page document highlights the consolidation of post-Covid recovery and the stability maintained by fiscal and monetary policies. Despite global volatility, India's economic growth continues to expand. Watch the full analysis and key insights from the Economic Survey 2023-24.
#IndianEconomy #EconomicSurvey #FinanceMinister #NirmalaSitharaman #EconomicGrowth #GlobalChallenges #EconomicStability #PostCovidRecovery #India2024
~PR.274~ED.102~HT.318~GR.125~
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Monday, 4 December 2023
![FM Nirmala Sitharaman tables Economic Survey 2023-24 in Parliament, a day ahead of the Union Budget [Video]](https://video.newsserve.net/300/v/20240722/1382461546-FM-Nirmala-Sitharaman-tables-Economic-Survey-2023-24.jpg)
