July 30, 2018 / 4:55 AM / in 4 months

Apparel maker TCNS Clothing falls 2 percent on market debut

(Reuters) - Shares of women’s apparel maker TCNS Clothing Co Ltd fell 2 percent in their market debut on Monday following an 11.25 billion rupee ($163.99 million) initial public offering.

The company’s shares were down 1 percent at 709 rupees as of 1003 GMT, compared with the IPO issue price of 716 rupees.

TCNS Clothing’s IPO was oversubscribed 5.2 times on the last day of the initial share sale earlier this month.

($1 = 68.6000 Indian rupees)

Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu

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