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The excitement around Go Fashion IPO is making money for shareholders of TCNS Clothing too

<keyword id="3581474" type="General" weightage="100" keywordseo="tcns" source="Orion">TCNS</keyword> Clothing (TCNS), <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s leading women's ethnic-focused fashion player, today announced that it has entered into definitive agreements for combining with <keyword id="3360476" type="General" weightage="80" keywordseo="abfrl" source="Orion">ABFRL</keyword>, India's leading fashion &amp; apparel company, and a part of the Aditya Birla Group. The transaction entails a combination of TCNS into ABFRL and will be carried out through - (1) Acquisition of the founding promoter's stake through a SPA and a conditional public open offer followed by (2) Merger between the two entities.<br /><br />The value of the promoter stake and open offer consideration for TCNS is ~ Rs. 1650 Crores for 51 per cent stake, making this one of the largest deals in the Indian fashion space.<br /><br />Onkar <keyword id="16015401" type="General" weightage="50" keywordseo="singh-pasricha" source="Orion">Singh Pasricha</keyword>, Chairman and Executive Director of TCNS, commented "This deal marks a true milestone for our company and its stakeholders. Under the support and guidance of ABFRL, TCNS will surely achieve even greater heights of success and excellence. We are happy that we have been able to pass on our legacy to one of the most prestigious and respected groups - one that is known for its values, ethics, corporate governance and employee empowerment. We believe that all stakeholders of TCNS will benefit immensely from this landmark transaction."<br /><br />Speaking on the transaction, <keyword id="6354955" type="General" weightage="50" keywordseo="kumar-mangalam-birla" source="Orion">Kumar Mangalam Birla</keyword>, Chairman, Aditya Birla Group, said, "This deal is yet another marker of the Aditya Birla Group's faith in the dynamism and buoyancy of the Indian consumer economy. As India stands on the cusp of a multi-decadal consumption boom, ABFRL is a forerunner in shaping the fashion landscape of our vibrant nation. For ABFRL, the TCNS deal is indeed a significant milestone as it complements our existing portfolio of exceptional brands across the entire spectrum of Indian fashion. By embracing TCNS's portfolio of loved women's ethnic brands, we are reinforcing our commitment to ethnic wear, the largest category in the apparel industry. With this acquisition, the fast-growing ABFRL platform is poised for the next phase of transformational growth."<br /><br />Over the years, TCNS has evolved into a leading women's branded apparel company with a proven playbook of multiple brand creations and seamless execution across multiple channels.<br /><br />Commenting on the acquisition, Ashish Dikshit, Managing Director, ABFRL said, "As young Indians identify a new-found confidence in their identities woven around Indian culture and heritage, the next set of leading consumer brands will be built in the Indian ethnic wear space. TCNS, through its brands W, Aurelia, Wishful &amp; Elleven, is catering to the Indian women's fashion needs across markets and price points. Each of these brands have been built over a long period of time and enjoy tremendous consumer love. This transaction is the pivotal piece of our ethnic strategy and marks the culmination of our stated intent of building India's most comprehensive ethnic wear portfolio."<br /><br />Anant Daga, Managing Director of TCNS said, "TCNS has been a pioneer in branded women's ethnic wear market in the country. Over the last 20 years, we have built India's most successful women's franchise on the back of our leading brands. The market continues to offer long-term growth opportunities and our partnership with ABFRL will help us fully realize this potential. ABFRL's proven brand-building capability, distribution strength and strong ecosystem of partners will help our brands into its next phase of growth and profitability."<br /><br />Credit Suisse acted as the exclusive financial advisor and Shardul Amarchand Mangaldas &amp; Co acted as the legal advisors for the transaction. Grant Thornton acted as an independent valuer for TCNS while ICICI Securities provided the Fairness Opinion to the Board of TCNS.<br /><br /><strong>Transaction Structure<br /></strong><br />As part of the transaction, ABFRL will make a conditional open offer to acquire up to 29 per cent stake at Rs. 503 per share from public shareholders and acquire the remaining stake from the founder promoters to reach an overall shareholding of 51% in TCNS. Pursuant to the above, TCNS will be amalgamated with ABFRL under the merger scheme wherein public shareholders of TCNS (as on effective date) will receive 11 shares of ABFRL for every 6 shares that they hold in TCNS.<br /><br />The transaction is subject to customary regulatory approvals including approvals from the Competition Commission of India, SEBI, Stock Exchanges, and National Company Law Tribunal.<br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/iafs-mig-21-crashes-in-rajasthan-three-civilians-killed-pilot-safe/articleshow/100069573.cms">IAF's MiG-21 crashes in Rajasthan; three civilians killed, pilot safe</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/india-coal-imports-surge-to-162-mt-in-fy23-inbound-coking-coal-shipment-grows-to-54-mt/articleshow/100069770.cms"><strong>India coal imports surge to 162 MT in FY23; inbound coking coal shipment grows to 54 MT</strong></a>

TCNS to merge with Aditya Birla Fashion and Retail Limited (ABFRL)

With India's economic recovery catching a faster pace, the next <keyword id="5966195" type="General" weightage="20" keywordseo="multibagger-stocks" source="Orion">multibagger stocks</keyword> might emerge from sectors like power, tourism, realty and IT sectors.<br /><br />Lately, banking, PSUs and even the stocks of brokerage firms have shown an upward trend. However, steep valuations have somewhat subdued investors' interest, said industry experts.<br /><br />Nonetheless, an accelerated economic recovery has boosted demand for sectors such as power and tourism. Consequently, stocks of companies in these sectors hold potential for giving future healthy returns.<br /><br />"IT sector has seen tremendous growth in the last two years since the lockdown as more and more companies move towards making themselves digitally equipped to tackle any such situation in the future," said Vijay Dhanotiya, Senior Research Analyst, CapitalVia Global Research.<br /><br />"We have also seen strong demand environment, sustained margins and improved cash flows which is expected to continue and hence we believe it will be one of the outperforming sectors in the market."<br /><br />Besides, he cited <keyword id="997729" type="General" weightage="20" keywordseo="power-sector-stocks" source="Orion">power sector stocks</keyword> to hold great potential.<br /><br />"Indian power sector has seen outstanding demand growth and India has become the fourth largest energy consumer in the world. Power sector has also seen growth due to the government policies as well as the demand increases.<br /><br />"Indian government has allowed 100 per cent FDI in the sector and has allowed the private players to enter the market. The sector is seen as one of the top outperforming sectors as the demand of energy is sought to increase at an unprecedented pace."<br /><br />Furthermore, MOFSL's advisory subsidiary Teji Mandi, CIO Vaibhav Agrawal said that travel and tourism sector is expected to "do well on account of the opening up of the economy and revenue consumption".<br /><br />"Even real estate as a sector is at an inflection point on account of low interest rates, tax savings on buying houses and increase in people's affinity to buy houses."<br /><br />"Furthermore, resumption of office life should help to increase demand for commercial real estate as well."<br /><br />According to Rahul Sharma, Co-Founder, Equity99, sectors such as real estate, specialty-chemicals and automobiles are guiding the next stage of rally.<br /><br />"This sector (specialty-chemicals) has sawn some correction in recent times due multi-fold rise in raw-material prices," Sharma said.<br /><br />"However, considering the increasing demand and steady increase in end products price by companies we expect the raw material price increase to not have significant impact."<br /><br />In addition, he pointed out that automobile sector has taken a huge hit by chip shortage crisis and is available at "good discount".<br /><br />"However, we think that correction in this sector is over and is ready for next stage of up-move."<br /><br />"Also there has been significant demand for EV vehicles and most companies are launching many EV models. We are bullish on this sector and expect a good move here."<br /><br />SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/nykaa-vs-itc-memes-are-hilarious-but-it-may-not-be-the-right-comparison/articleshow/87755496.cms">Nykaa vs ITC memes are hilarious but it may not be the right comparison</a><br /><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/the-excitement-around-go-fashion-ipo-is-making-money-for-shareholders-of-tcns-clothing-too/articleshow/87756224.cms">The excitement around Go Fashion IPO is making money for shareholders of TCNS Clothing too</a>

Next multibagger stocks might emerge from sectors like power, tourism, realty and IT sectors

<ul><li>One of the largest women's bottom-wear brands in India under brand Go Colors, <keyword id="2702367" type="General" weightage="20" keywordseo="go-fashion" source="Orion">Go Fashion</keyword> is in great demand among investors as IPO subscribed 6.87 times in 2 days.</li><li>The grey market premium has fallen by 23% in last two days to ₹460 per share.</li><li>The IPO that started on November 17 will close on Monday, November 22.</li></ul>The initial public offering (IPO) of Go Fashion is receiving great demand from investors, especially retail investors that fully subscribed to the IPO within the <a href="https://www.businessinsider.in/stock-market/news/the-excitement-around-go-fashion-ipo-is-making-money-for-shareholders-of-tcns-clothing-too/articleshow/87756224.cms">first two hours of opening</a>.<br /><br />However, the grey market premium of the company's shares continue to fall since the last couple of days. Currently, the premium for Go Fashion's shares is at ₹460 per share from ₹600 earlier. The IPO is in the price range of ₹655- ₹690 per share.<br /><br />So far in the first two days of IPO opening, it has oversubscribed by 6.87 times.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investors <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional investors<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.24 times<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional investors<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.30 times<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.64 times<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.87 times<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />Meanwhile, <a href="https://www.businessinsider.in/stock-market/news/the-excitement-around-go-fashion-ipo-is-making-money-for-shareholders-of-tcns-clothing-too/articleshow/87756224.cms">analysts are also bullish </a>on the prospects for Go Fashion, one of the largest women's bottom-wear brands in India under brand Go Colors. Go Fashion’s future expansion plans and good market share in branded women’s bottom wear has urged brokerage firms to recommend a subscribe rating on the stock.<br /><br />“It has acted as a “category creator” for bottom-wear and has levered its first mover advantage to create a direct-to-consumer brand with a diversified and differentiated range of premium products at competitive prices, from Rs225 to Rs1,599,” said Anand Rathi in a report. <br /><br />Women’s bottom-wear is the fastest-growing category in the women’s apparel segment, and is expected to grow to ₹243 billion by FY25, from ₹135 billion in FY20, says Reliance Securities.<br />                                <div type="image" title="go fashion" height="900" width="1200" msid="87824777" hostid="261"></div><br />Another exciting fact about Go Fashion company is its profitable and scalable exclusive brand outlet (EBO) model.<br /><br />Further, the proceeds from the fresh issue will be used to fund the roll out of 120 new exclusive brand outlets, to support working capital requirements and general corporate purposes.<br /><br />SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/the-excitement-around-go-fashion-ipo-is-making-money-for-shareholders-of-tcns-clothing-too/articleshow/87756224.cms">The excitement around Go Fashion IPO is making money for shareholders of TCNS Clothing too</a><br /><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/zomato-is-now-bigger-than-paytm-reasons-why-the-market-is-not-excited-about-vijay-shekhar-sharmas-vision-of-a-superapp/articleshow/87777762.cms">Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp</a>

You Searched For "TCNS Clothing stock" and got 4 results

The excitement around Go Fashion IPO is making money for shareholders of TCNS Clothing too

Bhakti Makwana

TCNS to merge with Aditya Birla Fashion and Retail Limited (ABFRL)

ANI

Next multibagger stocks might emerge from sectors like power, tourism, realty and IT sectors

IANS

Go Fashion's GMP continues to fall, now at ₹460 per share

Bhakti Makwana

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