Lovable Lingerie IPO subscribed 0.07 times on Day 1

The Initial Public Offering (IPO) of Lovable Lingerie Limited which opened for subscription by investors today - March 8, 2011 has received subscription of 0.07 times.

The company has come out with Public issue of 45,50,000 Equity Shares Of Rs 10/- each (including Anchor Portion of 6,82,500 equity shares) for cash at a price band of Rs.195 to Rs.205 through 100% Book Building process.

The issue has received total bids for 260880 equity shares against the offer of 3867500 equity shares. The issue has received bids for 158910 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received Nil subscription against the reserved portion of 1592500 equity shares.

The Non Institutional Investors portion of the issue also received Nil subscription against the reserved portion of 682500 equity shares.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 0.16 times with bids for 260880 equity shares against the offer of 1592500 equity shares.

The IPO closes for subscription on March 11, 2011. For QIB bidders Issue closes on Mar 10, 2011.

Source : Equity Bulls

Keywords