Tourism Finance Corporation of India Limited announced a private placement of up to 8,891,000 common shares at a price of INR 225 per share for gross proceeds of INR each aggregating up to INR 2,000,475,000 on February 26, 2024. The transaction included participation from new investors Aditya Kumar Halwasiya for 2,223,000 shares, Cupid Limited for 2,223,000 shares, and Columbia Petro Chem Pvt. Ltd for 4,445,000 shares. The transaction has been approved by the board of directors of the company. The securities will be issued on preferential basis.

On March 23, 2024, the company announced it has received communication from Cupid Limited to withdraw their offer to invest in the preferential issue of the shares.