TCNS Clothing’s IPO oversubscribed

TCNS Clothing’s initial public offer (IPO) received bids for 5.79 crore shares as against 1.09 crore shares on offer. The issue opened for subscription on July 18, 2018 and closed on July 20. 2018. The price band for the issue was fixed at Rs 714 to Rs 716 per share. The qualified institutional buyers (QIBs) category was subscribed seven times. The non-institutional investors (NIIs) category and the retail individual investor’s category remained undersubscribed. The NIIs category was subscribed 0.09 times while the RIIs category was subscribed 0.07 times.