Business Standard

TCNS Clothing shares tank over 8% in debut trade

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Press Trust of India New Delhi
Shares of women's apparel maker TCNS Clothing tumbled over 8 per cent against its issue price of Rs 716 in its debut trade today.
The stock after making a flat debut at Rs 715, ended 8.12 per cent lower at Rs 657.80 on BSE. During the day, it plunged 12.48 per cent to Rs 626.60.
On NSE, shares of the company settled at Rs 665, down 7.12 per cent from the issue price.
In terms of equity volume, 13.31 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day.
The company's market valuation stood at Rs 4,033.51 crore on BSE.
TCNS Clothing Company sells its products under W, Aurelia and Wishful brands.
The Rs 1,125-crore public offer was open during July 18-20 and was subscribed over 5 times.
Price band for the offer was set at Rs 714-716 per share.
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.

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First Published: Jul 30 2018 | 5:24 PM IST

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