Change of Guard at TFCIL

Koppara Sanjeeve Thomas and GD Mundra both representing the former promoter group on the the Board of Tourism Finance Corporation of India Limited (TFCIL) have stepped down as Directors on the 28th of March & 5th of April of this year respectively.

The Board of TFCIL further approved allotment of 22,23,000 equity shares to Aditya Kumar Halwasiya at a price of Rs 225 per equity share at its Meeting held on the 5th of April 2024.

This takes Aditya Kumar Halwasiya's shareholding in TFCIL to approximately 15.50% and effectively clears the path for Aditya Kumar Halwasiya to steer the company going forward. 

"I have full faith in the competent Board and Management of TFCIL, I am very upbeat on the journey ahead for the company and am proud to be a stakeholder of TFCIL just as Bharat is in the midst of a Multi-Year Tourism Boom!" said Aditya Kumar Halwasiya when asked to comment on these significant developments at TFCIL. 

Aditya Kumar Halwasiya is also the promoter of the Publicly Listed Indian Contraceptive Manufacturer Cupid Limited and the third generation scion of the Halwasiya Business Family out of Kolkata, India.

TFCIL is a premier public financial institution that provides finance and advisory services to the tourism sector in India.

Set up in 1989, TFCIL also provides finance to educational institutions, the healthcare sector, non-banking financial companies, the real estate sector engaged in affordable housing schemes, services such as logistics and warehousing, renewable energy, and the manufacturing sector.

Over the last three decades, TFCIL has been instrumental in the development of over 50,000 star-category hotel rooms and other tourism attractions in India including resorts in Kerala, Goa, and other states across India.

TFCIL has also been associated with the Palace on Wheels luxury train.