The IPO, to raise Rs 1,125-crore, received bids for 2.29 crore shares against the total issue size of 1.09 crore shares, data available with the NSE as of 11:45 am showed.
The initial public offering (IPO) of TCNS Clothing was subscribed over 2.08 times on Day 3 of bidding so far.
The IPO, to raise Rs 1,125-crore, received bids for 2.29 crore shares against the total issue size of 1.09 crore shares, data available with the NSE as of 11:45 am showed.
The portion set aside for qualified institutional buyers (QIBs) was subscribed 7 times, non-institutional investors 0.11 times percent and retail investors at 0.12 times .
Price band for the offer has been fixed at Rs 714-716 per share.
The company managed to raised over Rs 337 crore from anchor investors. The firm sells its products under W, Aurelia and Wishful brands.
Kotak Mahindra Capital Company and Citigroup Global Markets India are managing the issue.
The firm had filed draft papers with the Securities and Exchange Board of India (SEBI) to float an IPO in February and received the regulator's go-ahead in May.
As on September 30, 2017, 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. It also sold products through six exclusive brand outlets in Nepal, Mauritius and Sri Lanka.
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