INSUBCONTINENT EXCLUSIVE:
NEW DELHI: TCNS Clothing on Monday made a tepid market debut, as the scrip got listed at Rs 715 on BSE, 0.14 per cent discount to its issue
The company retails its products through large format stores, such as Pantaloons, Shoppers Stop and Lifestyle, among others.
At the issue
price, the stock was available at 44.8 times FY18 earnings (post dilution) against industry average of 51.9 times
Analysts believed the issue was fully-priced
The initial public offer (IPO) of the women's apparel maker, which ran from July 18 to July 20, subscribed 5.27 times
The category reserved for qualified institutional buyers (QIBs) was subscribed over 13 times and those of non-institutional and retail
investors 5 times and over 60 per cent, respectively.
Overall, the Rs 1,125-crore public offer had received bids for 5,79,79,780 shares
against the total issue size of 1,09,99,828, data available with the NSE showed
he company sells its products under W, Aurelia and Wishful brands had raised over Rs 337 crore from anchor investors.
The company is looking
at establishing its market position via expansion in retail outlets/online platforms, increasing products under brands and generating brand
recall through marketing initiatives, analysts noted.
