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TCNS Clothing to make debut on bourses on July 30

The 1,125-crore initial public offer has received good response from institutional investors, subscribing 5.25 times during July 18-20.

July 28, 2018 / 03:35 PM IST
 
 
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Women's apparel maker TCNS Clothing is going to make a debut on the bourses on Monday, July 30, 2018. The final issue price is fixed at higher end of price band of Rs 714-716 per share.

The 1,125-crore initial public offer has received good response from institutional investors, subscribing 5.25 times during July 18-20.

The offer received bids for 5,79,79,780 equity shares against the total issue size of 1,09,99,828 shares (excluding anchor portion of 47,14,210 shares).

The portion set aside for qualified institutional buyers (QIBs) was subscribed 13.47 times, non-institutional investors 5.08 times and retail investors 67 percent.

The IPO of 1,57,14,038 equity shares comprised an offer for sale by Onkar Singh Pasricha, Arvinder Singh Pasricha (promoters), Anant Kumar Daga, Saranpreet Pasricha, Angad Pasricha, Vijay Kumar Misra and Amit Chand (other selling shareholders) and Wagner (investor).

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TCNS Clothing sells its products under three brands W, Aurelia and Wishful brands.

As of March 31, 2018, TCNS sold products through 465 exclusive brand outlets, 1,469 large format store outlets and 1,522 multi-brand outlets, located in 31 states and union territories in India. It also sold products through six exclusive brand outlets in Nepal, Mauritius and Sri Lanka. In addition, it sold products through its own website and online retailers.

Kotak Mahindra Capital and Citigroup Global Markets India were book running lead managers to the issue.
Moneycontrol News
first published: Jul 28, 2018 11:07 am

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