Thomas Cook is planning to sell its entire stake in its profitable Indian unit to Fairbridge Capital in a deal valued at about Rs 1,000 crore including open offer.

The company will sell its stake at the rate of Rs 50 per share to the Toronto-based Fairbridge, which is a subsidiary of Fairfax Financial Holdings. The company is also offering the right to use its brand name for 12 years and the branding rights will be available to Fairbridge in countries including India and Mauritius.

UK-based tourism giant had put its stake in its Indian unit on block in January as a part of an effort to recover from difficult financial situation. The UK giant's Indian company has been profitable and has recorded strong growth over the years. The company has been present in the country since as early as 1881.

It has a market share of 60 per cent in the foreign exchange business in the country. Cox & King's, Japan Tourism Bureau, forex player Travelex, and private equity firm Carlyle had also expressed interest in buying the controlling stake in the company.

The shares of Thomas Cook India Ltd rose 2 per cent in early trade Tuesday on reports that after reports suggested that the Thomas Cook Group will sell its entire 77.1 percent stake in the unit.