TCNS Clothing IPO subscribed 5.25 times on last day

On July 20, TCNS Clothing closed the last day of its initial public offer (IPO) subscribed 5.25 times as it received bids for around 577 lakh shares against the total issue size of around 157 lakh shares.

TCNS Clothing closed the last day of its initial public offer subscribed 5.25 times - Aurelia- Facebook

The Press Trust of India (PTI) reported on July 20 that TCNS Clothing’s IPO closed on the National Stock Exchange of India (NSE) at 7.15pm subscribed at 5.25 times. The qualified institutional buyers’ category (QIBs) was subscribed 13.47 times and the non-institutional investors’ category was subscribed five times. Retail investors had subscribed to 62 percent of what was available, according to the PTI.

The IPO was for a total of around 157 lakh shares which included the anchor portion of 47 lakh shares. The business raised Rs 377 crore ($50.7 million) from its anchor investors ahead of the IPO which began on July 18. A total of 18 anchor investors purchased shares at at Rs 716 per scrip. The anchor investors include Auburn Ltd, Goldman Sachs India Ltd, DB International Asia Ltd, ICICI Prudential Life Insurance Company Ltd, and UBS Principal Capital Asia Ltd. among others.

The IPO was also set at between Rs 714 and 716 per share. The IPO is being managed by Kotak Mahindra Capital and Citigroup Global Markets India and the IPO was given the go ahead in May after the business filed draft papers with the Securities and Exchange Board of India in February.

TCNS Clothing retails ready-made garments through the brands Aurelia, W, and Wishful Brands and has a pan-India presence as well as in Nepal, Sri Lanka, and Mauritius.

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