Travel services firm Thomas Cook India today said it would raise up to Rs 200 crore through issue of equity shares to the existing shareholders on rights basis.

The board of directors on August 26, have approved to raise funds not exceeding Rs 200 crore by way of issue of equity shares to the existing equity shareholders of the company on rights basis, the company said in a filling to the Bombay Stock Exchange.

Ratio of the rights issue, its price and other terms and conditions would be decided later, Thomas Cook added.

The earlier announced resolution, including the ratio of one equity share for every three equity share held as on the record date stands cancelled, the filing added.

Earlier on March 23, 2007, the board of directors had approved

a resolved entailing raising up to Rs 225 crore through rights basis and in 1:3 ratio, wherein one equity shares would be alloted for every three held.

Meanwhile, shares of Thomas Cook India reacted positively to this news and surged as much as 18.29 per cent over its previous close and witnessed an intra-day high of Rs 101.50.

The scrip was trading at Rs 99.90, over 16.43 per cent up in the afternoon trade on the BSE

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