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History of Tourism Finance Corporation of India Ltd.

YEAR EVENTS 1989 - TFCI was incorporated as a public limited Comp. under the companies Act, 1956 on the 27th January, & became operational on 1st February, 1989.

- The Comp. in the business of assisting industrial, commercial, professional & trading enterprises to be engaged in setting up & or developement of tourism & tourism related activities/services.

- The Comp. was set up as a specialised All India Financial Institution to cater to the financing requirements of the Tourisim Insdustry at the instance of Government of India arising from the recommendation of National Committee on Tourism.

1994 - The Comp. made a public issue of 1,70,00,000 No. of Equity shares of Rs. 10/- each at a premium of Rs. 20/-per share vide on 20th August.

1995-98 NO NEWS

1999 - The Comp. had gone towards the setting up of non-conventional tourism projects like restaurants, highway facilities, travel agencies, amusement parks, dolphinarium, ropeways, car rental services, ferries for inland water transport, airport facilitation centre, training institute for hotel personnel etc.

- The Comp. promoted by ICRA's-own main promoter the Industrial Finance Corporation of India.

- The rating awarded to the company Rs 50-crore bonds programme to LAA- from LAA & its Rs 50-crore certificate of deposit programme to MAA- from MAA.

2000

-Tourism Advisory & Financial Services Corporation of India Ltd [Tafsils] has been merged with the company. The board has passed a resolution for allotment of 3 75 000 equity shares of Rs. 10 each of Comp. to the shareholders of Tafsil in the proportion of five shares of Comp. for every one share of Rs. 100 each of Tafsil held.

-Icra upgraded the Rs 50 crore NCD programme of Tourism Finance Corporation from LAA- to LA+.

-Enteres the market with an issue of Rs 100 crore of 12-year 12.00 per cent annually payable interest bonds.

2003

-Industrial Development Bank of India has sold 1,493,500 shares amounting to 2.22% & the holding after the sale is 60,06,500 shares amounting to 8.91%.

2004

-Industrial Development Bank of India [IDBIs], that they have sold 13,95,057 shares amounting to 2.07% of total share capital of Tourism Finance Corpn Of India Ltd.

2007

-Tourism Finance Corporation of India Ltd has informed that the Board of Directors of Conrail has appointed Mrs. Archana Capoor, as Chairman & Managing Director of Comp. for period of five years w.e.f. January 19, 2007.