Tata-Reliance news: Ambani and Tata-Birla are standing in line for this brand, what is so special about it – mukesh ambani, ratan tata and kumar manglam birla showed interest in this brand
W holds 52% and Aurelia holds 41% in the business of TCNS Clothing Ltd. In the second quarter of the financial year 2023, the company’s revenue was Rs 350.5 crore and profit was Rs 7.6 crore. Private equity firm TA Associates’ stake in the company is valued at around Rs 1,000 crore. Investment bank Avendus Capital is advising the company for this stake sale. After the Corona period, people have started going to office again, due to which the sale of clothes has increased. This is the reason why investors’ interest in this company has increased.
stock rally
As soon as this news came, there was a huge boom in the shares of TCNS Clothing Limited on Wednesday. It was trading at Rs 602.05 with a gain of 7.87 per cent at 10.30 am. If an investor buys TA Associates’ entire stake in the company, he will also have the opportunity to buy up to 26 per cent public shareholding. This is the reason why big companies have shown interest in it. TA Associates bought a 40 per cent stake in the company in 2016 for $140 million. But in 2018 some part of it was sold in IPO.
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Besides W and Aurelia, TCNS Clothing Limited’s portfolio also includes Wishful and Elleven. Experts say that the company has a good hold in the women’s wear market. Apart from apparel, the company is also expanding its presence in other categories. This is the reason why big companies have shown interest in it. These include Mukesh Ambani’s Reliance Retail, Tata Group’s Trent, Kumarmangalam Birla’s Aditya Birla Fashion and Falguni Nair’s Nayaka.
