Business description – TCNS Clothing is a leading women’s branded apparel company in terms of total number of exclusive brand outlets as of May 2018, according to Technopak. The company designs, manufactures, markets and retails a wide portfolio of women’s branded apparel across multiple brands. Its product portfolio includes top-wear, bottom-wear, drapes, combination-sets and accessories that caters to a wide variety of the wardrobe requirements of the Indian woman, including every-day wear, casual wear, work wear and occasion wear.
The company sells its products across India and through multiple distribution channels. As of 31 March 2018, it sold its products through 465 exclusive brand outlets, 1,469 large format store outlets and 1,522 multi-brand outlets, located in 31 states and union territories in India. As of 31 March 2018, it also sold its products through six exclusive brand outlets in Nepal, Mauritius and Sri Lanka. In addition, the company sold its products through its own website and online retailers.
Promoters of TCNS Clothing – Onkar Singh Pasricha and Arvinder Singh Pasricha
| TCNS Clothing IPO details | |
| Subscription Dates | 18 – 20 July 2018 |
| Price Band | INR 714 – 716 per share |
| Fresh issue | Nil |
| Offer For Sale | 15,714,038 shares (INR1,121.98 – 1,125.13 crore) |
| Total IPO size | 15,714,038 shares (INR1,121.98 – 1,125.13 crore) |
| Minimum bid (lot size) | 20 shares |
| Face Value | INR2 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
| TCNS Clothing’s financial performance (in INR crore) | ||||||
| FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | ||
| Total revenues | 170.3 | 301.9 | 488.1 | 713.0 | 849.2 | |
| Total expenses | 148.1 | 249.9 | 501.8 | 650.6 | 704.3 | |
| Profit after tax | 8.7 | 26.3 | -41.6 | 15.7 | 97.8 | |
| Net margin (%) | 5.1 | 8.7 | -8.5 | 2.2 | 11.5 | |
TCNS Clothing Contact Details
TCNS Clothing Co. LimitedÂ
W-House, 119, Neelagagan Towers
Mandi Road, Sultanpur
Mehrauli, New Delhi 110 030
Phone:Â +91 11 4219 3193
Fax:Â +91 11 4219 3194
Email: [email protected]
Website:Â www.wforwoman.com
Registrar of TCNS Clothing IPO
Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone:Â +91 40 6716 2222Â
Fax:Â +91 40 2343 1551Â
Email:Â [email protected]
Website:Â www.karvycomputershare.com
Valuation of TCNS Clothing (Based on latest FY)
Earnings Per Share (EPS): INR15.36
Price/Earnings (P/E) ratio: 46.48 – 46.61
Return on Net Worth (RONW): 22.74%
Net Asset Value (NAV): INR76.54 per share
TCNS Clothing IPO Subscription Details
| Category | Shares offered | Subscription (no. of times, at 5:30 pm)Â | ||
| Day 1 | Day 2 | Day 3 | ||
| QIB | 3,142,808 | 0.28 | 7.00 | 13.47 |
| NII | 2,357,106 | 0.00 | 0.09 | 5.07 |
| Retail | 5,499,914 | 0.02 | 0.07 | 0.48 |
| Total | 10,999,828 | 0.09 | 2.06 | 5.17 |
TCNS Clothing IPO Allotment Status
TCNS Clothing IPO allotment status is now available on Karvy Computershare’s website. Click on this link to get allotment status.
Listing Performance of TCNS Clothing
IPO Opening Date: 18 July 2018
IPO Closing Date: 20 July 2018
Finalisation of Basis of Allotment: 25 July 2018
Initiation of refunds: 26 July 2018
Transfer of shares to demat accounts: 27 July 2018
Listing Date: 30 July 2018
Listing Price on NSE: INR716 per share (no change from IPO price)
Closing Price on NSE: INR659.15 per share (down 7.93% from IPO price)
At this price, this iPO is very expansive and risky. profits are there but they are not very high. Worse, it has been in losses in the past. Better to avoid this.
You mean to say ‘expensive’
Haha
It is beyond logic why anyone will buy shares of this company when other better brands are available at better rates. Profits jumped in the last year alone so this can not be taken seriously. Kewal Kiran and Monte Carlo trade at lower PE ratio and both are more established names. I think we also need to see what has happened to Kitex stock price and it can happpen to any high price stock if promises are not met.
The grey market premium OR gmp is not good for this ipo..so clearly avoid this IPO
Come on people, it is not that expensive. Only 46 PE!!
Listing gains for sure as many analysts are recommending. Tulsyan also recomended subscribe
If Tulsian is bullish, you should know it is to be avoided. This guy has no credibility. Just coming on CNBC and saying blah blah about stocks doesn’t make you expert!!
If market sentiments are good at the time of listing than there will be some gains and if not then there will be little loss.
Poor listing but not unexpected. this share is not worth moe than 500/-. Just wait and see, it will go in the next few weeks.