Women's wear brand W's IPO next week; shares priced at Rs 714 to Rs 716

Apparel retailer TCNS Clothing will launch its Rs 11-billion initial public offering (IPO) of equity next week, where a clutch of promoters will sale their holdings. The company that owns popular women’s wear brand W has priced its shares at Rs 714 to Rs 716 a share. The 15.7-million share offering will open for subscription on July 18 and close on July 20. The total dilution by promoters will be 25.6 per cent. The IPO will value the company at Rs 44 billion.  TCNS Clothing sells its products, which mainly comprises ethnic wear, through 460 rented brand outlets and 1,522 multi-brand outlets.