TCNS Clothing Co. Ltd has announced an open offer for the acquisition of up to 1,87,12,577 fully paid up equity shares, representing 29% of the Expanded Share Capital, by Aditya Birla Fashion & Retail Ltd, conditional upon a minimum level of acceptance of 1,30,27,826 equity shares representing 20.19% of the Expanded Share Capital. The offer price is INR 503 per equity share.