TA Associates Sells TCNS Clothing Stake for Rs 159 Crore

New Delhi, Aug 7 (PTI) Private equity firm TA Associates on Wednesday sold a 4.3 per cent stake in women's ethnic wear firm TCNS Clothing Co for Rs 159 crore through an open market transaction.

A total of 27.50 lakh shares or 4.34 per cent stake in TCNS Clothing Co were offloaded by US-based TA Associates via its arm TA FDI Investors Ltd through separate bulk deals on the National Stock Exchange (NSE) and BSE.

As per the data, TA FDI Investors Ltd offloaded 15.70 lakh shares of TCNS Clothing Co on the NSE and it disposed of 11.80 lakh scrips of the ethnic wear firm on the BSE.

The shares were sold in the price range of Rs 580.08-580.14 per piece, taking the combined transaction value to Rs 159.53 crore.

After the latest transaction, TA Associates' shareholding in TCNS Clothing Co was reduced to 2.68 per cent from 7.02 per cent.

Details of the buyers of TCNS Clothing Co shares could not be identified on both BSE and NSE.

On Wednesday, shares of TCNS Clothing Co rose 1.41 per cent to close at Rs 579.95 apiece on the BSE, while the scrip ended at Rs 575.10, up by 0.50 per cent on the NSE.