Lovable Lingerie IPO subscribed 18.33 times

The Initial Public Offering (IPO) of Lovable Lingerie Limited has received overwhelming response with subscription of 18.33 times till 2:00 PM on March 11, 2011.

The issue has received total bids for 70891080 equity shares against the offer of 3867500 equity shares. The issue has received bids for 9775890 equity shares at cut-off price.

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 already closed for subscription by QIB bidders and closes for subscription by other investors today - March 11, 2011.

Source : Equity Bulls

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