TCNS Clothing Company has received markets regulator Securities and Exchange Board of India’s (SEBI) approval to raise funds through an initial public offering (IPO).
The company will offer little over 1.57 crore shares to be offloaded through the offer-for-sale (OFS) route. Among others, promoters -- Onkar Singh Pasricha and Arvinder Singh Pasricha -- will offload shares in the IPO.
Kotak Investment Banking and Citi are the book running lead managers for the issue.
TCNS Clothing Company designs, manufactures, markets, and retail women’s branded apparel. The company sells its products under W, Aurelia and Wishful brands.