Screen Print India Magazine

Screen Print India Magazine

A Premier Magazine on Screen Printing, Textile Printing, Digital Printing


HomeBusinessTCNS to Merge with Aditya Birla Fashion and Retail Ltd. (ABFRL)

TCNS to Merge with Aditya Birla Fashion and Retail Ltd. (ABFRL)

09 May 2023: TCNS Clothing (TCNS), India’s leading women’s ethnic focused fashion player has announced that it has entered into definitive agreements for combining with ABFRL, India’s leading fashion & apparel company and a part of Aditya Birla group. The transaction entails combination of TCNS into ABFRL and will be carried out through – Acquisition of founding promoter’s stake through a SPA and a conditional public open offer followed by Merger between two entities.

The value of the promoter stake and open offer consideration for TCNS is ~ Rs.1,650 Crores for 51% stake, making this one of the largest deals in Indian fashion space.

Onkar Singh Pasricha, Chairman and Executive Director of TCNS said “This deal marks a true milestone for our company and its stakeholders. Under the support and guidance of ABFRL, TCNS will surely achieve even greater heights of success and excellence. We are happy that we have been able to pass on our legacy to one of the most prestigious and respected groups – one that is known for its values, ethics, corporate governance and employee empowerment.”

Speaking on the transaction, Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “This deal is yet another marker of Aditya Birla Group’s faith in dynamism and buoyancy of Indian consumer economy. As India stands on the cusp of a multi-decadal consumption boom, ABFRL is a forerunner in shaping fashion landscape of our vibrant nation. For ABFRL, the TCNS deal is indeed a significant milestone as it complements our existing portfolio of exceptional brands across the entire spectrum of Indian fashion.”

Over the years, TCNS has evolved into a leading women’s branded apparel company with proven playbook of multiple brand creations and seamless execution across multiple channels.

Share With:

Screen Print India Weekly News Letter

Subscribe Now...