Cox & Kings, one of India's most established travel operators, has shown it can make light weather of the gloom in the global travel sector by successfully closing an initial public offering for a listing on the Bombay Stock Exchange and National Stock Exchange.
Matching its prowess at luring travellers with elegant brochures featuring Rajasthan palaces and tiger reserves, the Mumbai-based travel company has proved it can also appeal to investors with an initial public offering prospectus. When the offering closed at the end of last week, it was more than six times oversubscribed as investors bought into expectations of tourism growth in the developing world.
