TCNS makers of W and Aurelia looking to launching an IPO

TCNS, apparel manufacturing company known for its famous women’s wear brands W, Aurelia and Wishful, is refurbishing its factories. The company’s has so far invested around Rs 1 crore on technology up-gradation.

Amit Kumar, Operation Head and Rakesh Singh, Production Head says the brand is revamping factories to change few of the material handling systems and machines and is exploring new ideas which would help them to improve the efficiency and overall productivity.

He further added this kind of revamping is essential for survival. One has to keep the facility updated and efficiency has to improve every day and at every stage to remain competitive. The production team of the apparel manufacturer is exploring latest technology at exhibitions across the country to revamp the units.

The company has already initiated up-gradation process at its six manufacturing facilities in Noida which have nearly 2,000 stitching machines. The same will soon be replicated in all other factories. Media reports claim that the company is also in the process to roll out its own IPO (Initial Public Offering).

The company has reportedly partnered with Citibank and Kotak Mahindra Capital for its IPO and will file the draft by the end of 2017. The manufacturer’s standalone revenue stood at Rs. 590.67 crores in the last financial year. It expects to raise around Rs. 700-750 crores from the IPO.