Lovable IPO price fixed at Rs 205/ share

Buoyed by strong response from investors, women inner wear manufacturer Lovable Lingerie today fixed the initial public offer (IPO) price at Rs 205 per share.

The company had entered the capital market with a price band of Rs 195 to Rs 205 and the issue was subscribed around 35 times.

"(The company has) fixed the issue price at Rs 205 per equity share of an initial public offer of 45,50,000 equity shares," the company said in a statement.

The issue had closed on March 11.

The company will use the issue proceeds for brand building of their 'college style' brand and investment in joint ventures, setting up exclusive brand outlets, along with retail store modules for shop-in-shop and upgradation of design studios, other than general corporate purposes.

 

The company plans to set up a manufacturing facility to create additional capacity in Bangalore.