Mumbai: Tour operator Thomas Cook (India) Ltdon Tuesday said it will buy a 74% stake in unlisted Bangalore-based human resources company Ikya Human Capital Solutions Pvt. Ltdfor Rs.256 crore.
The company management said the acquisition will be funded through internal accruals and Ikya, which manages 54,000 people, will be kept as a separate entity. Thomas Cook was never present in this sector.
Thomas Cookis one of the largest travel and travel-related financial services companies in the country, offering services that include foreign exchange, corporate travel, leisure travel, insurance, visa and passport services.
Shares of Thomas Cook (India) lost 2.35% to Rs.53.95 on BSE while the benchmark Sensex index fell 0.46% to 19,659.82 points. The announcement was made after market hours.