TCNS Clothing IPO subscribed 5.2 times, sees strong demand from investors

TCNS Clothing’s initial public offering (IPO) has garnered final subscription of 5.2 times thanks to strong demand from institutional investors. The institutional portion of the offering saw 13.5 times more demand than the shares on offer. Wealthy Investor portion was subscribed 5.1 times, but the retail category saw only 50 per cent subscription. 

TCNS’ is a company that owns popular women’s wear brand W. Through the IPO, promoters are diluted 25.6 per cent of their holdings. The IPO values the company at Rs 44 billion. 
 
"At the Rs 716 per share, the P/E multiple works out be 44