TCNS Clothing Co IPO to open on July 18
The company is looking to raise around Rs 1,125 crore through an initial public offering at Rs 714-716 per equity share. Bids can be made for a minimum lot of 20 equity shares and in multiples of 20 equity shares thereafter, the company said in a statement.
TCNS had earlier in May got the nod from Securities and Exchange Board of India (SEBI) to float an initial public offering (IPO).
The offer shall constitute up to 25.63% of the post-offer paid-up equity share capital of the company. The equity shares are proposed to be listed on BSE and NSE, the statement added.
Kotak Mahindra Capital Company Limited and Citigroup Global Markets India Private Limited will be managing the IPO.
Currently, TCNS has 418 exclusive brand outlets, 1,305 large format store outlets and 1,361 multi-brand outlets across the country. It also has six exclusive brand outlets in Nepal, Mauritius and Sri Lanka.
The company was founded in 2001 by brothers Onkar and Arvinder Pasricha. US-based private equity firm TA Associates had invested $140 million in TCNS Clothing in August 2016.
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