TCNS Clothing files draft papers for IPO
05/03/2018
Womens branded apparel maker TCNS Clothing has filed draft papers for an initial public offer, wherein existing shareholders plans to sell more than 1.57 crore shares, reported PTI. The company sells its products under the brands W, Aurelia and Wishful. Little over 1.57 crore shares are to be offloaded through the offer-for-sale (OFS) route, according to the draft red herring prospectus (DRHP) filed with market regulator Sebi. Out of the total, 47.14 lakh shares would be allocated to anchor investors. Among others, promoters -- Onkar Singh Pasricha and Arvinder Singh Pasricha -- would offload shares in the IPO. "Our company expects that listing of the equity shares will enhance our visibility and brand image and provide liquidity to our shareholders," it said. Kotak Investment Banking and Citi are the book running lead managers for the offer.
05/03/2018
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Womens branded apparel maker TCNS Clothing has filed draft papers for an initial public offer, wherein existing shareholders plans to sell more than 1.57 crore shares, reported PTI. The company sells its products under the brands W, Aurelia and Wishful. Little over 1.57 crore shares are to be offloaded through the offer-for-sale (OFS) route, according to the draft red herring prospectus (DRHP) filed with market regulator Sebi. Out of the total, 47.14 lakh shares would be allocated to anchor investors. Among others, promoters -- Onkar Singh Pasricha and Arvinder Singh Pasricha -- would offload shares in the IPO. "Our company expects that listing of the equity shares will enhance our visibility and brand image and provide liquidity to our shareholders," it said. Kotak Investment Banking and Citi are the book running lead managers for the offer.
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