Lovable Lingerie IPO
Lovable Lingerie IPO — date, price band, lot size & details 2011
Lovable Lingerie listed on 24 Mar 2011 at ₹240, 17.1% above the ₹205 issue price.
Lovable Lingerie is one of India's leading women's innerwear makers, selling under the Lovable and Daisy Dee brands. Its total income was Rs 86.79 crore in FY2010.
Stock price
Lovable Lingerie is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 15 November.
- Open 08 Mar 2011
- Close 11 Mar 2011
- Allotment 18 Mar 2011
- Refund/credit TBA
- Listing 24 Mar 2011
Issue summary
The terms of the offer, as filed.
| IPO Dates | 8 to 11 Mar, 2011 |
|---|---|
| Price Band | ₹195 – ₹205 |
| Face Value | ₹10 |
| Lot Size | 30 Shares |
| Issue Size | ₹93.28 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,150 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 30 shares at the ₹205 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 30 | ₹6,150 |
| Retail (max) | 32 | 960 | ₹1,96,800 |
| S-HNI (min) | 33 | 990 | ₹2,02,950 |
| S-HNI (max) | 162 | 4,860 | ₹9,96,300 |
| B-HNI (min) | 163 | 4,890 | ₹10,02,450 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 63.08 crore in FY2008 to Rs 86.79 crore in FY2010.
- 02Profit after tax rose from Rs 3.94 crore in FY2008 to Rs 9.79 crore in FY2010, and was Rs 12.61 crore in nine months to December 2010.
- 03Total borrowing fell from Rs 7.04 crore in FY2008 to Rs 0.34 crore on 31 December 2010.
- 04Rs 22.85 crore of the issue was for new manufacturing capacity at Bengaluru.
Risks · 5
- 01Its main brand Lovable is licensed from a US company, so it depends on that licence; it has used it since 1995.
- 02Rs 25.00 crore of the issue was for a joint venture, which adds execution risk.
- 03Brand building of Rs 18.00 crore may not pay back in a crowded innerwear market.
- 04Total income was flat at Rs 86.57 crore in nine months to December 2010 against Rs 86.79 crore in FY2010.
- 05Promoter holding fell from 91.84% before the issue to 66.96% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Lovable Lingerie offer document.
| Metric | 31 Dec 2010 | 31 Mar 2010 | 31 Mar 2009 | 31 Mar 2008 |
|---|---|---|---|---|
| Assets | 49.56 | 46.49 | 47.56 | 34.10 |
| Total Income | 86.57 | 86.79 | 68.82 | 63.08 |
| Profit After Tax | 12.61 | 9.79 | 6.02 | 3.94 |
| NET Worth | 36.91 | 24.36 | 14.68 | 11.99 |
| Reserves and Surplus | 25.71 | 16.86 | 13.18 | 10.49 |
| Total Borrowing | 0.34 | 0.33 | 6.39 | 7.04 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Lovable Lingerie RHP.
Where the money goes
₹121.14 Cr of the issue is earmarked to named objects.
Lovable Lingerie IPO Anchor Investors
5 anchor investors across 5 fund houses committed ₹13.99 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| HDFC Trustee Company Limited HDFC MF Monthly Income Plan, Long Term Plan | HDFC Mutual Fund | 292,683 | 6.00 | 42.88% |
| SBI MF - Magnum Sector Funds Umbrella - Emerging Businesses Fund | SBI Mutual Fund | 97,561 | 2.00 | 14.29% |
| DSP Blackrock Micro Cap Fund | DSP Mutual Fund | 97,561 | 2.00 | 14.29% |
| HSBC Equity Fund | HSBC Mutual Fund | 72,743 | 1.49 | 10.66% |
| Birla Sun Life Trustee Company Private Limited A/C Birla Sun Life 95 Fund | Aditya Birla Sun Life Mutual Fund | 121,952 | 2.50 | 17.87% |
| Total anchor allocation | 13.99 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
In 1995 it licensed the Lovable brand from Lovable World Trading Company, USA. Its products include brassieres, panties, camisoles, homewear, shapewear and sleepwear, with Lovable and Daisy Dee as its flagship brands.
It is headquartered in Mumbai and has three manufacturing facilities.
The IPO was Rs 93.28 crore and was entirely fresh issue at Rs 205, the top of the Rs 195 to Rs 205 band. The money was for new capacity at Bengaluru, brand building, a joint venture, exclusive brand outlets and design studios.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lovable Lingerie IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Anand Rathi Advisors Ltd
30 issues handledBest listing: Paras Defence & Space Technologies (+168.0%). Weakest: Aanjaneya Lifecare (-6.8%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Lovable Lingerie?
The current Grey Market Premium is ₹0.
What is the Lovable Lingerie IPO price band?
₹195 to ₹205, on a face value of ₹10.
When is the allotment?
The basis of allotment is 18 March 2011, with listing on 24 March 2011.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
