Friday, March 4, 2011

Lovable Lingerie fixes IPO price band at Rs 195-205/share

Lovable Lingerie has fixed a price band of Rs 195-205 a share, for its intial public offering to raise up to Rs 932.8 million, it said in a newspaper advertisement on Thursday.

The issue, which opens on March 8 and closes on March 11, would constitute 27.08% of the post issue paid-up capital of the company.

Last month, the company had raised Rs 200 million via a pre-IPO placement, by placing 1 million shares with SCI Growth Investments.

The company plans to use the proceeds from the IPO for a manufacturing facility, brand promotion and retail expansion.

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