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Women’s inner-wear manufacturer Lovable Lingerie ended the day higher by 21.56 per cent on the BSE against the issue price of Rs Rs 205 on its first day of trade today.
The scrip surged by 21.56 per cent to close the day at Rs 249.20. During the intra-day session, the stock zoomed by 36 per cent touching a high of Rs 278.95.
Similarly on the National Stock Exchange, the scrip jumped by 23.10 per cent to close the trade at Rs 252.35. On the volume front, over four crore shares of the company were traded on the two bourses during the day.
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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