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TCNS Clothing IPO subscribed 10 pc on Day 1
UPDATED: July 18, 2018 19:43 IST
New Delhi, Jul 18 (PTI) The initial public offer of women's apparel maker TCNS Clothing was subscribed 10 per cent on the first day of bidding today.
The IPO, to raise Rs 1,125-crore, received bids for 10,75,880 shares against the total issue size of 1,09,99,828 shares, data available with the NSE showed.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 29 per cent, non-institutional investors 1 per cent and retail investors 3 per cent.
The IPO is of 1,57,14,038 shares, including anchor portion of 47,14,210 shares.
Price band for the offer, which would close on July 20, has been fixed at Rs 714-716 per share.
TCNS Clothing Company yesterday raised over Rs 337 crore from anchor investors.
The firm sells its products under W, Aurelia and Wishful brands.
Kotak Mahindra Capital Company and Citigroup Global Markets India are managing the issue.
The firm had filed draft papers with the Securities and Exchange Board of India (SEBI) to float an IPO in February and received the regulator's go-ahead in May.
As on September 30, 2017, TCNS sold its products through 418 exclusive brand outlets, 1,305 large format store outlets and 1,361 multi-brand outlets in different parts of the country. It also sold products through six exclusive brand outlets in Nepal, Mauritius and Sri Lanka. PTI SUM ABM ABM
This is unedited, unformatted feed from the Press Trust of India wire.
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