TCNS Clothing (TCNS) has entered into definitive agreements for combining with Aditya Birla Fashion and Retail (ABFRL), India’s leading fashion & apparel company, and a part of the Aditya Birla group. The transaction entails combination of TCNS into ABFRL and will be carried out through ? (1) Acquisition of the founding promoter’s stake through a SPA and a conditional public open offer followed by (2) Merger between the two entities. The value of the promoter stake and open offer consideration for TCNS is Rs 1650 crore for 51% stake, making this one of the largest deals in the Indian fashion space.
TCNS Clothing designs, manufactures, markets and retails a wide portfolio of women’s branded apparel across multiple brands. The company’s product portfolio includes top-wear, bottom-wear, drapes, combination-sets and accessories that cater to a wide variety of the wardrobe requirements of the Indian woman, including every-day wear, casual wear, work wear and occasion wear.
