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Women’s inner-wear maker Lovable Lingerie made a handsome debut on the bourses today, listing at a premium of over 27 per cent on the Bombay Stock Exchange against the issue price of Rs 205.
The stock opened the day at Rs 261.50 on BSE, reflecting a jump of 27.56 per cent over its issue price, this morning.
Within minutes of listing, the stock jumped to touch an early high of Rs 278.95 on the bourse.
In a similar fashion, the scrip started the day at Rs 240 on the National Stock Exchange, up 17.07 per cent.
On the volume front, over one crore shares of the company were traded on the two bourses within the first few minutes of trade.
The company had fixed a price band of Rs 195-205 a share for its Rs 93.27 crore initial public offer.
The funds raised through the IPO will be utilised for setting up additional manufacturing capacity at its Bangalore unit, brand building and brand development for the company’s College Style brand.
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