Mumbai based Lovable Lingeries Limited is entering into primary market with an Initial Public Offer (IPO) of 4,550,000 Equity Shares of Rs 10 each. The IPO is opening on 8th Mar 2011 and the shares will be available for subscription up to 11th Mar 2011. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs. 195 – Rs. 205 Per Equity Share. The company is likely to raise around Rs 93.28 Crore through the issue at the upper level of price band. 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).
Issue Open : 8th Mar 2011 – 11th Mar 2011
Issue Type : 100% Book Built Issue IPO
Issue Size : 4,550,000 Equity Shares of Rs 10 each
Issue Size : Rs 88.73 – 93.28 Crore
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 195 – Rs. 205 Per Equity Share
Minimum Bid Quantity : 30 Shares (Rs. 6150 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 960 Shares (Rs. 196800 with 32 Lots ) @ upper level of price band
Listing At : BSE, 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.
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