Shares of TA Associates-backed TCNS Clothing jumped over 8 percent on Wednesday after reports suggested that Reliance Retail, Aditya Birla Fashion, and others were keen on buying the promoter’s stake in the company.
Reports suggested that potential bidders have shown an interest in buying TA Associates’ 29.24 percent stake in the company.
TCNS Clothing is known for the popular W and Aurelia brands of apparel and private equity firm TA Associates is its promoter entity.
The reports also suggested that PE players TPG Capital and Advent International were also interested in buying the stake.
The promoters may also consider selling the entire or a part of their 32 percent stake in TCNS Clothing, according to sources.
Besides TA Associates, Nalanda Capital holds a 7.01 percent stake and Elevation Capital has a 5.38 percent stake. Auburn and Steinberg own around 1.5 percent stake each.
Shares of TCNS Clothing are trading 8 percent higher at Rs 603.65.
