Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Smartkarma

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<p><a href="https://www.smartkarma.com/entities/26778" target="_blank" data-smartkarma-citation="entities:26778:1">TCNS Clothing Co Pvt Ltd (0365999Z IN)</a> (TCNS) plans to raise around US$150m in its IPO via a selldown by the founders.  </p><p>Fast growth with 80%+ PATMI CAGR over FY15-17, EBIDTA and PATMI margins that have been expanding since FY13 and continue to do so over 1H18, sales aided by store expansion and double-digit same-store sales growth, and a potentially large market, are some of the things this deal offers. Unless the asking valuations turn out to be outlandish, this looks like a no-brainer despite the vagaries of high-street fashion.</p>

TCNS Clothing Co Pvt Ltd (0365999Z IN) (TCNS) plans to raise around US$150m in its IPO via a selldown by the founders.  Fast growth with 80%+ PATMI CAGR over FY15-17, EBIDTA and PATMI margins that have been expanding since FY13 and continue to do so over 1H18, sales aided by store expansion and double-digit same-store sales growth, and a potentially large market, are some of the things this deal offers. Unless the asking valuations turn out to be outlandish, this looks like a no-brainer despite the vagaries of high-street fashion.

TCNS Clothing Pre-IPO - Fast Growth, Growing Segment and a Good Track Record

India

Future Retail Limited owns and operates supermarkets and hypermarkets. The Company offers consumer durable goods, fashion, food, electronics, and other products. Future Retail serves customers worldwide.

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Future Retail Ltd (FRETAIL IN)

TCNS Clothing Pre-IPO - Fast Growth, Growing Segment and a Good Track Record

TCNS Clothing Co Pvt Ltd (0365999Z IN) (TCNS) plans to raise around US$150m in its IPO via a selldown by the founders. Fast growth with 80%+ PATMI...

Sumeet Singh

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