Mumbai (PTI): Travel services firm Thomas Cook (India) on Tuesday said it will go ahead with the rights issue after its open offer, which it had deferred last year.

"We may go ahead with the rights issue after the open offer. There are a whole sets of regulatory process involved," Thomas Cook India MD Madhavan Menon told reporters.

The company has scheduled its open offer between May-end and June 2nd week. The open offer has been necessitated after the UK-based Thomas Cook Group acquired a majority stake in Thomas Cook India from Dubai Financial Group for Rs 1,336 crore in March.

Thomas Cook UK acquired 54.9 per cent shares at Rs 107 a share. Now as per market regulator's requirements, it would look at acquiring another 20 per cent in the open market.

Last year in October, it had deferred the rights issue due to re-organisation of the founders' stake in its parent firm. It had planned to raise Rs 2.25 billion at that time.

On Tuesday, it launched 'www.thomascook.in', a travel portal that would offer end-to-end travel solutions for customers. The company, which has 40 franchises in India, would look at leveraging its presence on the net through this offering.

"We are hoping to leverage the goodwill that the brand name Thomas Cook has established in India, capitalise on the experience that the organisation has accumulated over so many years and use our relationship with Thomas Cook Group," Thomas Cook India Chairman Udayan Bose said.

The portal would offer travel products, financial services, domestic and international flight booking, foreign travel insurance, hotels, cruises and Rail Europe tickets and passes.