Lovable Lingeries IPO has been receiving a good response since yesterday, when the IPO closed for subscription for QIB Investors and the IPO is now bid more than 11 times on an overall basis as per data available on the NSE website till March 11, 2011 1100 hrs IST. The response from the Retail Category has also been augmenting with the Retail Category also overbid more than 2.5 times till now

Lovable Lingeries IPO closes for subscription today and the subscription is expected to increase as the day goes further, especially in the Retail Category. Stay tuned to Indian IPO Blog for regular subscription status updates on the IPO throughout the day

Lovable Lingeries IPO has received an astonishing response on Day 3 of its opening, which was the last day for QIB Investors, the IPO being overbid 10.64 times on an overall basis. The IPO has received solid support from the QIB Category with subscription in the category at about 21.87 times

Earlier, credit rating agency CARE had assigned an IPO Grade 3 to Lovable Lingeries Ltd IPO. This means that as per CARE, the company has 'Average Fundamentals'. CARE assigns IPO grading on a scale of IPO Grade 1 to IPO Grade 5, with IPO Grade 1 indicating poor fundamentals and IPO Grade 5 indicating strong fundamentals

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

Stay tuned to Indian IPO Blog for regular subscription status updates on the IPO throughout the closing day!

QIB: 21.87 times
Non-Institutional Investors: 3.02 times
Retail: 2.67 times
Overall: 10.64 times