Indian apparel maker TCNS Clothing's $163 million IPO oversubscribed
Updated : July 20, 2018 07:02 PM IST
Investors bid for 57.1 million shares, or 5.2 times the 10.1 million shares on offer, according to stock exchange data as of 1230 GMT.
Shareholders of TCNS, which sells the W, Aurelia and Wishful brands of women's apparel, were selling 15.7 million shares, or a 25.6 percent stake in the company, in a price range of 714-716 rupees a share in the IPO.
Kotak Mahindra Capital and Citigroup are the managers to the TCNS IPO, which is raising 3.38 billion rupees from anchor investors as part of the total offer.
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