TCNS Clothing has filed a Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO), wherein existing shareholders plan to sell more than 1.57 crore shares.
The listing of the Equity Shares will enhance the company’s visibility and brand image and provide liquidity to the existing shareholders. Kotak Investment Banking and Citi are the book running lead managers to the issue.
TCNS Clothing Company designs, manufactures and sells contemporary ethnic wear, targeting women between the ages of 20 and 45. Through its three brands – W, Aurelia and Wishful – TCNS operates across the value chain catering to women throughout India.
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