Nalanda Equity Fund acquires 7.02 per cent stake in TCNS Clothing

Singapore-based investment firm Nalanda Capital India Advisors’ arm, Nalanda India Equity Fund has acquired a 7.02 per cent stake in apparel manufacturer TCNS Clothing, which owns the women’s wear brand W.

Nalanda bought 43.2 lakh shares for an investment of Rs 178.15 crore in a bulk deal on the National Stock Exchange at Rs 412.31 apiece.

TCNS was listed on the stock exchange in July 2018. In April 2020, Elevation Capital (formerly known as SAIF Partners) acquired a 2.67 per cent stake in the company through an open market transaction.

Nalanda Capital has a couple of other listed apparel firms in its portfolio. It holds close to a 7.13 per cent stake in Kewal Kiran Clothing, which owns brands such as Killer, Integriti, LawmanPg3 and Addictions. Nalanda also holds a 7.56 per cent stake in Jockey International’s Indian partner Page Industries.

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