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Shares of women’s apparel maker TCNS Clothing, after making a flat debut on the bourses, fell nearly 3 per cent against its issue price of Rs 716.
The stock got listed at Rs 715, down 0.13 per cent against the issue price on the BSE. Later, it fell 2.89 per cent to Rs 695.80. On the NSE, the company got listed at Rs 716.
The company’s market valuation stood at Rs 4,281.54 crore on the BSE. In terms of equity volume, 4.36 lakh shares of the company were traded on the BSE and over 46 lakh shares changed hands on the NSE in the morning trade.
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.
TCNS Clothing Company sells its products under W, Aurelia and Wishful brands. 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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