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Tourism Finance board to mull fund raising

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Tourism Finance Corporation of India in an exchange filing on Tuesday announced that the company's board will meet on 22 November to consider the issuance of NCDs to be issued on private placement basis.

A meeting of the Resource Committee of the Directors of the Company will be held on Monday, 22 November 2021, to consider the issuance of Non-Convertible Debentures (NCDs) to be issued on private placement basis, the company said in an exchange filing.

Tourism Finance Corporation of India, a premier tourism financing institution. It is a dominant player in the hospitality segment and is engaged in project financing, corporate loans, working capital demand loan, structured financing, etc.

The company reported a 1.3% decline in standalone net profit to Rs 21.65 crore on a 1.4% rise in total income to Rs 65.72 crore in Q2 FY22 over Q2 FY21.

Shares of Tourism Finance Corporation were trading 1.27% higher at Rs 67.60 on BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, November 17 2021. 09:14 IST