IPO Udpate: W brand IPO subscribed 10 per cent on Day 1

The IPO of TCNS Clothing Company Limited has received considerable attention from retail and anchor investors. The company's Anchor Investors (AIs) portion has raised Rs. 337 crore.

This week's lone IPO, TCNS Clothing is a popular women's apparel company. This Delhi-based company owns brands including W, Aurelia and Wishful. The IPO opened for subscription on July 18, 2018 and closes on July 20. The price band of the IPO is fixed at Rs. 714.00 to 716.00 per share of face value Rs. 2 and the lot size is 20 equity shares.

The total issue size is 1,09,99,828 equity shares for which cumulative bids received were at 10,75,880, of which 1,20,020 bid were received at cut-off price and the total issue was subscribed 0.10 times as on the end of first day of subscription on Wednesday.

Meanwhile, the AI portion in the public issue was subscribed by 18 AIs at Rs. 716 per share, raising Rs. 337 crore. The prominent investor included Axis Mutual Fund, Birla Mutual Fund, Fidelity Management & Research, Goldman Sachs, GMO, ChrysCapital and ICICI Prudential.