TCNS Clothing makes flat debut on bourses

Shares of Women's apparel maker TCNS Clothing made a flat debut on the bourses today, soon falling nearly 3 per cent against its issue price of Rs 716.

The stock listed at Rs 715, down 0.13 per cent against the issue price on BSE. Later, it was trading at Rs 695.80, falling 2.89 per cent from the issue price.

On NSE, shares of the company debuted at Rs 716.

The company's market valuation stood at Rs 4,281.54 crore on BSE.

In terms of equity volume, 4.36 lakh shares of the company were traded on BSE and over 46 lakh shares changed hands on NSE in morning trade.

TCNS Clothing Company sells its products under W, Aurelia and Wishful brands.

Price band for the offer was set at Rs 714-716 per share.

The Rs 1,125-crore public offer was open during July 18-20 and was subscribed over 5 times.

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 sells products through six exclusive brand outlets in Nepal, Mauritius and Sri Lanka.