Moneycontrol PRO
you are here: HomeNewsBusiness

‘W’ brand owner TCNS Clothing on the block as shareholders look to exit

Sources said that TCNS Clothing has hired an investment bank for the sale process and has reached out to both private equity and strategic players to sell stake in the company. Nykaa, Flipkart, and Amazon are among key strategic players in talks to explore a stake in TCNS Clothing, the sources added.

August 05, 2022 / 11:54 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

TA Associates-backed TCNS Clothing, which owns womenswear apparel brand W, is on the block as shareholders seek exit, three independent sources with direct knowledge of the matter told Moneycontrol.

The sources said that TCNS Clothing has hired an investment bank for the sale process and has reached out to both private equity and strategic players to sell stake in the company. Nykaa, Flipkart, and Amazon are among key strategic players in talks to explore a stake in TCNS Clothing, the sources added.

Soon after Moneycontrol reported the exclusive, shares of TCNS Clothing were higher by around 4 per cent.

Promoters with 32.25 percent stake may also look to exit if a buyer eyes majority stake, they said. TA Associates, the earliest and the single largest investor in the company with 29.24 percent stake, is wanting to exit its investment. Other large investors include Nalanda Capital with 7.01 percent stake and Elevation Capital 5.38 percent stake. Auburn and Steinberg own around 1.5 percent stake each.

TA Associates declined comment for the story. TCNS Clothing, Nykaa, and Flipkart did not reply to queries till the time of publishing while an Amazon spokesperson said, “We do not comment on speculation.”
Nisha Poddar is an Editor-M&A, CNBC-TV18
first published: Aug 5, 2022 11:36 am
Sections
ISO 27001 - BSI Assurance Mark