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Lovable allots 6.82 lakh shares to 5 anchor investors

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Press Trust of India Mumbai

Lovable Lingerie, leading women's innerwear manufacturer, today said it has finalised the allocation of 6,82,500 equity shares to five anchor investors at a price of Rs 205 per equity share.

At a price of Rs 205 per equity share, it would aggregate to Rs 13.99 crore out of an initial public offer of 45,50,000 equity shares of face value of Rs 10 each for cash, the company said in a statement here.

The company has fixed price the band at Rs 195 and Rs 205 per equity share for its IPO, it added.

It has allocated 2,92,683 equity shares (42.88%) of the total anchor allocation to HDFC Trustee Company-HDFC MF Monthly Income Plan, Long Term Plan; 97,561 equity shares (14.29%) to SBI MF - Magnum Sector Funds Umbrella - Emerging Businesses Fund; 97,561 equity shares (14.29%) to DSP Blackrock Micro Cap Fund;  72,743 equity shares (10.66%) to HSBC Equity Fund; and 1,21,952 equity shares (17.87%) to Birla Sun Life Trustee Company.

 

The company's IPO will be closing on March 10, for qualified institutional buyers (QIBs) and March 11, for non-institutional bidders and retail individual bidders. The issue would constitute 27.08% of the post issue paid-up capital of the company.

It has allotted 10,00,000 equity shares of Rs 10 each at a premium of Rs 190 per equity share to SCI Growth Investments II pursuant to a pre-IPO placement through a resolution passed by the board of directors of the company, dated February 12, 2011.

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First Published: Mar 09 2011 | 8:37 PM IST

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