TCNS Clothing acquired by Aditya Birla Fashion for Rs 1,650 crore
Aditya Birla Group's fashion retail company Aditya Birla Fashion (ABFL) has entered into definitive agreements to acquire a 51 percent stake in TCNS Clothing for Rs1650.
TCNS Clothing is a listed women’s branded apparel retailer that owns brands such as W, Elleven, and Aurelia. As part of the transaction, ABFRL will make a conditional open offer to acquire up to a 29 percent stake at Rs 503 per share from public shareholders and acquire the remaining stake from the founder promoters to reach an overall shareholding of 51 percent in TCNS.
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