TCNS Clothing Company IPO

Alchemist

Administrator
Staff member
#1
TCNS Clothing Company IPO

The IPO closes tomorrow - 20th July 2018.

On first look, I felt the IPO was fully valued and was thinking of skipping it.

Now that the issue has already been subscribed 2 times, I think I should relook at the RHP.

I will update the thread tonight.
 

Alchemist

Administrator
Staff member
#2
My opinion is still the same - the IPO is fully priced.

If there is strong QIB demand, I will apply for listing gains but will sell on first day - no plans to hold.

Garments retailing is a tough business. TCNS Clothing is doing reasonably well at the moment, but its future is difficult to predict. Overall the sector has been a big disappointment for investors and I feel it is better to stay away from it.
 
#3
Strange issue. IPO Demand hasn't grown like we expected.

When I look at the nseindia site for subscription details. It tells me that bids at cut-off price is like 10% (0.1 times) of the issue-size allocated for QIB.

Total Issue Size 1,09,99,828
Total Bids Received 3,51,65,100
Total Bids Received at Cut-off Price 11,21,020
No. of times issue is subscribed 3.20

Since most issues are offered to at cut-off price, does this mean that someone is playing to spike up the subscription?
 
#4
Have applied for the same. The way the brand W has grown in the last 3 years is amazing and this simply adds to the retail consumer story.
 
#5
I skipped this issue.

Alchemist - did you apply? If you can throw your views on my previous comment, it may be useful to analyze future IPO subscriptions. Thanks!
 

Alchemist

Administrator
Staff member
#6
Strange issue. IPO Demand hasn't grown like we expected.

When I look at the nseindia site for subscription details. It tells me that bids at cut-off price is like 10% (0.1 times) of the issue-size allocated for QIB.

Total Issue Size 1,09,99,828
Total Bids Received 3,51,65,100
Total Bids Received at Cut-off Price 11,21,020
No. of times issue is subscribed 3.20

Since most issues are offered to at cut-off price, does this mean that someone is playing to spike up the subscription?
How did you come to the "spike up" conclusion? I see nothing abnormal in cut-off subscription being at 0.1 times as only retail investors are allowed to bid at cut-off.
 

Atiker

Active member
#9
How are the shares traded on the listing day ? I mean whats this pre - open price ? What time does the share remain in pre open and when it is available for normal trading ?

I placed an order for TCNS at 9:50 am it got rejected.
 
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Atiker

Active member
#10
My opinion is still the same - the IPO is fully priced.

If there is strong QIB demand, I will apply for listing gains but will sell on first day - no plans to hold.

Garments retailing is a tough business. TCNS Clothing is doing reasonably well at the moment, but its future is difficult to predict. Overall the sector has been a big disappointment for investors and I feel it is better to stay away from it.
Hi, Alchemist,

QIB demand now appears fishy.
The IPO was subscribed 13+ times in QIB and 5 times in NII.
In one week, what has changed that the same QIB, who were lining up to buy, are no where to be seen when the stock is trading below IPO price.

The index has not crashed, no new geo political action, then why the QIB are not buying ?

There is something fishy in the way the IPO subscriptions are being managed.

Disclaimer : No exposure to TCNS.
 
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Alchemist

Administrator
Staff member
#11
There is something fishy in the way the IPO subscriptions are being managed.
The way this IPO was over-subscribed on day 2 was fishy.

Usually, most applications come on the last day. I guess the applications on 2nd day were submitted to create "momentum" for the IPO. Some of these may have been withdrawn on the last day - we don't know.
 
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