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Lovable Lingerie ropes in 5 anchor investors
Lovable Lingerie has received commitment of Rs 14 crore from five anchor investors on Monday as against issuing 6,82,500 equity shares at higher end of price band of Rs 195-205 a share.
Women's innerwear manufacturer Lovable Lingerie has received commitment of Rs 14 crore from five anchor investors on Monday as against issuing 6,82,500 equity shares at higher end of price band of Rs 195-205 a share.
Anchor investors are HDFC Trustee Company, SBI MF, DSP Blackrock Micro Cap Fund, HSBC Equity Fund and Birla Sun Life Trustee Company.
The 45.5 lakh equity shares' initial public offering has opened for subscription today. The company plans to raise up to Rs 93.28 crore at higher price band, which are proposed to be used for a manufacturing facility, brand promotion and retail expansion.
Sequoia Capital India's growth fund had picked up a 5.95% stake in a pre-IPO investment in the company for Rs 20 crore. The deal was involved SCI Growth Investments II picking up one million shares at a price of Rs 200 per share.
The issue closes on March 11. Anand Rathi Financial Services is the book running lead manager to the issue.
