TCNS Clothing makes flat debut on stock market

Shares of Women wear brand TCNS Clothing fell nearly 3 per cent against its issue price of Rs 716 soon on its debut on the bourses. The stock listed at Rs 715, down 0.13 per cent against the issue price on BSE. Later, it was trading at Rs 695.80, falling 2.89 per cent from the issue price.

The company shares debuted at Rs 716 on NSE.

The company's market valuation stood at Rs 4,281.54 crore on BSE.

In terms of equity volume, 4.36 lakh shares of the company were traded on BSE and over 46 lakh shares changed hands on NSE in morning trade.

TCNS Clothing Company sells its products under W, Aurelia and Wishful brands.

Price band for the offer was set at Rs 714-716 per share.

The Rs 1,125-crore public offer was open during July 18-20 and was subscribed over 5 times.

TCNS sold its products through 418 exclusive brand outlets, 1,305 large format store outlets and 1,361 multi-brand outlets in different parts of the country on September 30, 2017. It also sells products through six exclusive brand outlets in Nepal, Mauritius and Sri Lanka.