TCNS Clothing makes weak debut; stock settles 7% below issue price

TCNS Clothing settled at Rs 665, down 7.1% against its issue price of Rs 716, after listing at par on the NSE.

Shares of TCNS Clothing settled at Rs 665 per share on the National Stock Exchange (NSE) on Monday, falling 7.12% from their issue price of Rs 716 per share after making a listless debut on the bourses by opening at par against its issue price. It opened at Rs 715, a tad below its issue price.

The stock touched a low of Rs 626.60 on the BSE and Rs 627.55 on the NSE in intra-day trade.

The initial public offer (IPO) of the women's apparel maker was got a huge response, subscribed 5.27 times overall. The Rs 11.25-billion public