ABFRL would pay Rs 1,650 crore for a majority interest in TCNS Clothing | Business Outreach

ABFRL would pay Rs 1,650 crore for a majority interest in TCNS Clothing

According to ABFRL, the value of the promoter stake and open offer consideration for TCNS is Rs 1,650 crore for a 51% stake.

As part of the transaction, ABFRL will make a conditional open offer to acquire up to 29% of TCNS from public shareholders at Rs 503 per share

W, Aurelia, Wishful, Folksong, and Elleven are ethnic brands available at TCNS Clothing.

According to Anant Daga, TCNS’s managing director, “…Over the last 20 years, we have built India’s most successful women’s franchise on the back of our leading brands.

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