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TCNS Clothing makes weak debut; stock settles 7% below issue price

TCNS Clothing settled at Rs 665, down 7.1% against its issue price of Rs 716, after listing at par on the NSE.

Representative Image (Photo: Shutterstock)
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Representative Image (Photo: Shutterstock)

SI Reporter Mumbai
Shares of TCNS Clothing settled at Rs 665 per share on the National Stock Exchange (NSE) on Monday, falling 7.12% from their issue price of Rs 716 per share after making a listless debut on the bourses by opening at par against its issue price. It opened at Rs 715, a tad below its issue price.

The stock touched a low of Rs 626.60 on the BSE and Rs 627.55 on the NSE in intra-day trade.

The initial public offer (IPO) of the women's apparel maker was got a huge response, subscribed 5.27 times overall. The Rs 11.25-billion public

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First Published: Jul 30 2018 | 4:10 PM IST

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