IPO Update: TCNS Clothing Company oversubscribed more than 4 times

On the last day of subscription, the IPO of TCNS Clothing Company was oversubscribed 4.52 times on Friday, 20 July. The price band of the IPO is Rs. 714-716 per share of face value Rs. 2, with a lot size of 20 equity shares.

TCNS Clothing Company Limited has received good attention from investors. The company owns the popular W brand of clothing and also sells apparels under Aurelia and Wishful brand. The company was founded by two brothers OS Pasricha and AS Pasricha. TCNS Clothing offers Indian contemporary wear through big box retailers, as well as standalone stores. In FY2018, the company's apparels were sold at 465 exclusive brand outlets.

The objective of the offer are to achieve the benefits of listing the equity shares of the company on the stock exchanges and to enable the selling shareholders offload up to 1,57,14,038 equity shares.

At 16:00 hours, the total bids received for the IPO 4,97,20,480, of which the bids received at cut-off price were 14,70,940.