By TCNS clothing supported by TA, who has a Womenwear W Women’s Clothing Brand, is in the block when the shareholders searched out, three independent sources with direct knowledge of the problem told moneycontrol.
Sumber said that TCNS clothing had hired an investment bank for the sales process and had reached private and strategic equity players to sell shares in the company. Nykaa, Flipkart, and Amazon are one of the main strategic players in talks to explore shares in TCNS clothing, Sumber added.
As soon as MoneyControl reports exclusively, TCNS clothing shares are around 4 percent higher.
Promoter with 32.25 percent of shares may also be seen out if the majority majority buyers, they said. TA Associates, the earliest and the largest single investor in the company with 29.24 percent of shares, want to get out of its investment. Other large investors include Nalanda Capital with 7.01 percent of shares and a capital increase of 5.38 percent. Auburn and Steinberg each have around 1.5 percent of shares.
TA Associates refused comments for the story. Clothing, Nykaa, and Flipkart did not reply to questions until the time of publishing Amazon spokesman said, “We did not comment on speculation.”