Lovable Lingeries IPO : CARE gives 3 out of 5 Grade

by khalid on 28/02/2011 · 0 comments

Mumbai based Lovable Lingeries Limited IPO has got 3 out of 5 by ICRA (rating agency) and this rating/grading is Average fundamentals for a women’s innerwear manufacture company IPO. The grade 3 indicates that the fundamentals of the IPO are Average compared to the other listed securities in India. The company is entering into primary market with an Initial Public Offer (IPO) of 4,550,000 Equity Shares of Rs 10 each. The premium of the issue will be decided through a 100% Book Building Process. Lovable Lingeries Ltd is one of India’s leading women’s innerwear manufacturers. Company was licensed the brand “Lovable” from Lovable World Trading Company, USA in 1995. “LOVABLE” is India’s First Premium International Lingerie Brand.

The proceeds of the IPO are proposed to be utilized for setting up a new manufacturing unit in Bangalore, for brand building, to invest in JV with UK’s Lifestyle Galleries of London Ltd, setting up exclusive brand outlets, upgradation of design studios and for other general purposes.

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The Sole Book Running Lead Manager (BRLM) to the offer is Anand Rathi Securities Limited.

Registrar of the Issue : Link Intime India Private Ltd, Mumbai.

Stay tuned to BelltheBull Blog for more news on Lovable Lingeries IPO !

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