Tcns Clothing shares rise after reports suggest brand players interested in potential deal


Shares of TCNS Clothing are down 22% year-to-date.

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To buy to sell TCNS Clothing C to share

Shares of TA Associates-backed TCNS Clothing jumped more than 8% on Wednesday after reports suggested Reliance Retail, Aditya Birla Fashion and others wanted to buy the promoter’s stake in the business.

Reports suggest that potential bidders have shown interest in buying TA Associates’ 29.24% stake in the company.

TCNS Clothing is known for popular clothing brands W and Aurelia and private equity firm TA Associates is its sponsoring entity.

CNBC-TV18 reported on Aug. 5 that existing shareholders were looking to exit the business and have reportedly hired an investment bank to sell its stake to strategic buyers and private equity players.

Reports also suggested that private equity players TPG Capital and Advent International were also interested in buying the stake.

The promoters may also consider selling all or part of their 32% stake in TCNS Clothing, sources say.

Besides TA Associates, Nalanda Capital holds a 7.01% stake and Elevation Capital a 5.38% stake. Auburn and Steinberg hold about 1.5% each.

Shares of TCNS Clothing are trading up 8% at Rs 603.65.

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