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Last Updated : Jul 30, 2018 04:17 PM IST | Source: Moneycontrol.com

Tepid debut: TCNS Clothing closes 8% lower at Rs 657.80 on Day 1

After opening at Rs 715 against issue price of Rs 716, it touched an intraday high of Rs 724.50 and low of Rs 626.60 on the BSE.

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It was a disappointing start to TCNS Clothing as the stock price traded below its issue price for major part of the session on Monday.

After opening at Rs 715 against issue price of Rs 716, it touched an intraday high of Rs 724.50 and low of Rs 626.60 on the BSE.

Finally it settled at Rs 657.80, falling 8.13 percent with trading volume of 13.31 lakh equity shares. At closing price, its market capitalisation stood at Rs 4,033.51 crore.

The women's apparel maker had launched IPO of 1,57,14,038 equity shares during July 18-20, which 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).

The company raised Rs 1,125-crore through the public offer which was subscribed 5.25 times.

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.
First Published on Jul 30, 2018 04:17 pm
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