Lovable Lingerie debuted at Rs 261.50, up by 56.5 points or 27.56% from its issue price of Rs 205 on the BSE.
The scrip is currently trading at Rs 268.30, up by 63.30 points or 30.87% from its issue price and has touched a high and low of Rs 269.40 and Rs 255.00 respectively. So far 1959589 shares were traded on the counter.
India’s leading women’s innerwear ‘Lovable Lingerie’ got listed today , the issue price was fixed at Rs 205, higher end of price band of Rs 195-205 a share. The issue got overwhelming response and was subscribed around 35 times raising around Rs 93 crore.
The company will be using the issue proceeds for Setting up of a manufacturing facility to create additional capacity at Bengaluru; Expenses to be incurred for Brand Building; Brand Development expenses for our “College Style” brand; Investment in Joint Venture; Setting up of Exclusive Brand Outlets (“EBO’s”); Setting up of retail store modules for “shop-in-shop”; Up gradation of design studios and General corporate purpose.
The Mumbai based company manufacturer’s women’s innerwear. The company is having joint venture with Lovable Lifestyles which will market, manufacture, distribute and direct retail in the super premium lingerie segment. Lovable will hold 90% stake in the JV with London's Lifestyle Galleries. The company’s brands include 'Lovable', 'Daisy Dee' and 'College Style' which are retailed through 103 distributors in India. Lovable has three manufacturing facilities - two in Bengaluru, with an installed capacity of 60 lakh pieces p.a. and another unit in Uttarakhand with an installed capacity of 7.5 lakh pieces p.a.
No comments:
Post a Comment