TCNS Clothing Company will raise approx Rs.1,125 crore through an initial public offering (IPO), with a price band of Rs.714-716 per share.

The entire issue will comprise of an offer for sale (OFS), and with this the company’s existing shareholders will divest 25.63% stake, or around 15.7 million shares. Of the total, approx 4.7 million shares will be allocated to anchor investors.

The issue will open on July 18 and close on July 20. Further, Kotak Mahindra Capital Company and Citigroup Global Markets India are the book running lead managers to the offer and Karvy Computershare is the registrar.

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