Sterling Holiday Resorts announced that Thomas Cook Insurance Services (India) ('Acquirer') has been allotted 20,650,000 equity shares of Sterling Holiday Resorts (India) ('Company') on Mar. 14, 2014 at a price of Rs 90.49 an equity share, aggregating to Rs 1,868,618,500.

The acquirer has acquired certain rights in relation to the company in accordance with the subscription agreement dated Feb. 07, 2014 entered between the acquirer and the company.

Rights in relation to the aforesaid will be exercised in accordance with and subject to the provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended.

Shares of the company gained Rs 0.15, or 0.16%, to trade at Rs 92.50. The total volume of shares traded was 47,552 at the BSE (2.03 p.m., Tuesday).