Analysis and Insights into the world of IPOs and investing in India

Friday, March 25, 2011

Lovable Lingerie IPO closes listing day with healthy premium

Lovable Lingerie IPO, which listed on the exchanges yesterday on Thursday, March 24, 2011, closed with a substantial premium over its issue price. The share closed at Rs.249.20 on the BSE as against the Issue Price of Rs.205/- per equity share. On the NSE, the share closed at Rs.252.35, a premium of close to 23% over the issue price

The equity shares Lovable Lingerie Ltd. listed at Rs.261.50 on the BSE and went on to touch Rs.278.95 as the Intra-day High, while the Intra-day Low was Rs.241.40. The weighted average traded price on the BSE was Rs.259.17, which pretty much reflected the stable range of Rs.245 to Rs.265 in which the share traded throughout most part of the day. Lovable Lingerie witnessed a Total Traded Value of Rs.447.50 Cr on the BSE with a Total Traded Quantity of 172.67 lakh shares

Lovable Lingeries Ltd is one of India's leading women's innerwear manufacturers, with products including brassieres, panties, slips / camisoles, homewear, shapewear, foundation garments and sleepwear products. The company plans to use the proceeds from the IPO for a manufacturing facility, brand promotion and retail expansion
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