Lovable Lingerie IPO Open On March 8

Lovable Lingerie IPO Open On March 8Mumbai-based ladies innerwear producer Lovable Lingerie is getting into capital market which has a public issue of 45.5 lk equity stocks of face value of Rs 10 every on March 8.

The ipo issue would comprise 27.08percent of the post issue paidup capital, that will end on March 11.

The company will utilize the issue cash to setup a production facility to generate additional capability at Bangalore, where it’ll invest Rs 23 cr . Lovable also intends to invest Rs 25 cr in its joint-venture Lovable Lifestyles PVT Ltd, that will market, produce, distribute as well as direct-retail in the super high quality lingerie segment. Lovable will hold 90percent share in the JV with London’s Lifestyle Galleries. It’ll likewise invest extra amount on brand building as well as establishing exclusive brand outlets (EBOs).

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