TCNS Clothing announces launch of initial public offering
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TCNS Clothing Co. Ltd. has announced public offering of 15714038 shares at a price of Rs 2.00 each for Cash at a Premium of Rs 714.00 per share. The gross proceeds of the issue are expected to be Rs 1,12,512.51 lakhs. The company's initial public offer (IPO) will open on 18 July 2018 and is expected to close on 20 July 2018, subject to customary closing conditions.
The price band of the issue has been fixed at Rs 714.00-716.00 per share. The IPO includes a fresh Issue of 15714038 Equity Shares of the Company at an price of Rs 716.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 20 shares with bids in multiples of 20. TCNS Clothing Co. Ltd. anticipates using the proceeds of the issue for . Kotak Mahindra Capital Company Ltd.,Citigroup Global Markets India Private Limited as lead manager(s) & KARVY COMPUTERSHARE PRIVATE LIMITED is the registrar, to the issue.
