Global private-equity firm TA Associates has invested ₹925 crore ($140 million) for a minority stake in Delhi-based TCNS Clothing.
The investment marked a full exit for Matrix Partners India, which had invested ₹60 crore in TCNS in 2011 for a minority stake and overall ₹90 crore in primary and secondary capital, according to a press release from Matrix Partners India.
TCNS Clothing designs, manufactures and sells women’s ethnic wear, targeting the 25-40 age group. It has three brands — W, Aurelia and Wishful — and operates across economy to premium segments. The brands are present in more than 1,600 points of sale in over 100 cities in India, Mauritius, Sri Lanka and West Asia. They are also available in more than 300 exclusive stores, large multi-brand retailers and online portals.