Lovable Lingerie IPO receives a lovable response from investors

It seems that Lovable Lingerie Ltd. has somehow managed to receive all the love from investors, at least as far as their Initial Public Offering goes. Lovable Lingerie IPO, which closed for subscription today, has concluded with a staggering subscription figure of 35.21 times on an overall basis. The IPO, which was bleakly subscribed in the first two days of its opening, has gained solid support from all three categories of investors

Lovable Lingerie IPO was subscribed 21.87 times in the QIB Category till Thursday, March 10, 2011 which was the closing day for subscribers in that category. Moreover, the IPO has gained keen attention of the other two categories as well with subscription in the HNI Category towering close to almost 100 times. The Retail oversubscription has also rocketed on the closing day with the subscription in the category standing at 20.84 times

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 Issue would constitute 27.08% of the post issue paid-up capital of the company. The company plans to use the proceeds from the IPO for a manufacturing facility, brand promotion and retail expansion