Lovable Lingeries IPO Details

Issue Open Mar 8, 2011
Issue Close Mar 11, 2011
IPO Price ₹205
Face Value ₹10
IPO Size ₹93.28 Cr
Listing At BSE, NSE
IPO Lot Size 30

LOVABLE LINGERIE LIMITED

Constituted under, the Companies Act, 1956 on September 29, 1987 as a private limited company under the name and style of Hybo Knit Private Limited. Our name was subsequently changed to Lovable Lingerie Private Limited pursuant to a certificate of change of name dated December 20, 1995. Our Company was converted into a public limited company pursuant to the special resolution passed by the members of our Company on February 8, 2010 and fresh certificate of name change consequent upon conversion of our Company from a private limited company to a public limited company issued by the RoC on April 19, 2010. The corporate identification number of our Company is U17110MH1987PLC044835. For further details see the chapter titled 'History & Certain Corporate Matters' on page 128 of the Prospectus.

Registered Office and Corporate Office: A - 46, Street No. 2, MIDC, Andheri (East), Mumbai - 400 093, Maharashtra, India Tel: +91 22 2838 3581; Fax: +91 22 2838 3582; Email: corporate@lovableindia.in; Website: www.lovableindia.in
For further details in relation to the changes in out registered office, see the chapter titled 'History and Certain Corporate Matters'on page 128 of the Prospectus.

Company Secretary: Mrs. Megha Maheshwari, Compliance Officer: Mr. Sunil Shukla

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 45,50,000 EQUITY SHARES OF FACE VALUE OF RS 10 EACH OF LOVABLE LINGERIE LIMITED ('THE COMPANY' OR 'THE ISSUER') FOR CASH AT A PRICE OF RS 205 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 195 PER EQUITY SHARE) AGGREGATING RS 9,327.50  LACS (THE 'ISSUE'). THE ISSUE WOULD CONSTITUTE   27.08% OF THE POST ISSUE PAID-UP CAPITAL OF THE ISSUER.

THE FACE VALUE OF THE EQUITY SHARES RS 10 EACH. THE ISSUE PRICE IS RS 205/- AND IS 20.5 TIMES THE FACE VALUE OF THE EQUITY SHARES.

The Equity Shares of the Company are proposed to be listed on the Bombay Stock Exchange Limited ('BSE') and the National Stock Exchange of India Limited ('NSE') and the trading is expected to commence on March 24,  2011.

In case of revision in the Price Band, the Bidding/Issue Period will be extended for three additional Working Days after revision of the Price Band, subject to the Bidding/Issue Period not exceeding ten (10) Working Days. Any revision in the Price Band and the revised Bidding/Issue Period, if applicable, will be widely disseminated by notification to National Stock Exchange of India Limited ('NSE') and the Bombay Stock Exchange Limited ('BSE'), by issuing a press release, and also by indicating the change on the website of the Book Running Lead Manager ('BRLM') and at the terminals of the other members of the Syndicate.

The Issue is being made through the 100% Book Building Process wherein not more than 50% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ('QIB') Bidders. 5% of the QIB Portion (excluding Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion  shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. Potential investors, other than Anchor Investors, may participate in the Issue through an Application Supported by Blocked Amount ('ASBA') process providing details about the bank account, which will be blocked by the Self Certified Syndicate Banks ('SCSBs') for the same. For further details please see the chapter titled 'Issue Procedure' on page 271 of the Prospectus.

The Issue received 57,905 applications for 136,964,430 equity shares resulting in 30.1021 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional, Retail Individual Investors and Anchor Investors are as under:

(Before technical rejections)

Category No. of Applications No. of Shares No. of times subscription
A Retail Individual Bidders 57,675 32,574,450 20.4549
B Non Institutional Bidders 162 67,203,510 98.4667
C Qualified Institutional Bidders 63 34,746,150 21.8186
D Anchor Investors 5 2,440,320 3.5756
Total 57,905 136,964,430

Final Demand
The final demand at different bid prices is as under:

Bid Price No. of Equity Shares % to Total Cumulative Total Cumulative % to total
195 5,125,740 3.484 5,125,740 3.484
196 15,150 0.010 5,140,890 3.494
197 2,580 0.002 5,143,470 3.496
198 3,060 0.002 5,146,530 3.498
199 210 0.000 5,146,740 3.498
200 5,493,570 3.734 10,640,310 7.233
201 930 0.001 10,641,240 7.233
202 19,890 0.014 10,661,130 7.247
203 516,630 0.351 11,177,760 7.598
204 1,500 0.001 11,179,260 7.599
205 112,117,230 76.210 123,296,490 83.809
CUTOFF 23,819,250 16.191 147,115,740 100.000
TOTAL 147,115,740 100.000

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange) Limited ('BSE') on March 18, 2011.

A. Allocation to Retail Individual Investors (After Technical Rejections)

The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at th e Issue Price of Rs 205 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 20.17 27 times. The total number of shares allotted in Retail Individual Investor category is 1,592,500 Equity Shares to 39,685 successful applicants. The category-wise details of the Basis of Allotment are (Sample) as under:

Category No. of Applns. % to total Total No. of Equity Shares applied % to total No. of Equity Shares allocated Ratio Total No. of Equity Shares allocated
30 4,828 8.53 144,840 0.45 30 4:81 7,140
60 2,737 4.83 164,220 0.51 30 6:61 8,070
90 1,757 3.1 158,130 0.49 30 4:27 7,800
120 1,469 2.59 176,280 0.55 30 1:5 8,820
150 1,266 2.24 189,900 0.59 30 14:57 9,330
180 789 1.39 142,020 0.44 30 8:27 7,020
210 645 1.14 135,450 0.42 30 8:23 6,720
240 1,679 2.96 402,960 1.25 30 17:43 19,920
270 466 0.82 125,820 0.39 30 4:9 6,210
300 1,032 1.82 309,600 0.96 30 1:2 15,480
330 332 0.59 109,560 0.34 30 6:11 5,430
360 373 0.66 134,280 0.42 30 3:5 6,720
390 291 0.51 113,490 0.35 30 9:14 5,610
420 251 0.44 105,420 0.33 30 9:13 5,220
450 530 0.94 238,500 0.74 30 14:19 11,730
480 13,302 23.49 6,384,960 19.88 30 23:29 316,500
510 583 1.03 297,330 0.93 30 16:19 14,730
540 185 0.33 99,900 0.31 30 8:9 4,920
570 106 0.19 60,420 0.19 30 16:17 3,000
600 419 0.74 251,400 0.78 30 83:84 12,420
960 22,124 39.07 21,239,040 66.11 47 1:1 1,039,828
960 1 28:47 13,175

B. Allocation to Non Institutional Investors (After Technical Rejections)

The Basis of Allocation to the Non-Institutional Investors, who have bid at the Issue Price of Rs 205 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 98.2644 times. The total number of equity shares allotted in this category is 682,500 equity shares to 155 successful applicants. The category-wise details of the Basis of Allotment are (Sample) under:

Category No. of Applns. % to total Total No. of Equity Shares applied % to total No. of Equity Shares allocated Ratio Total No. of Equity Shares allocated
990 3 1.9 2,970 0 30 1:3 30
1020 1 0.63 1,020 0 30 1:1 30
2100 1 0.63 2,100 0 30 1:1 30
2310 6 3.8 13,860 0.02 30 5:6 150
2430 1 0.63 2,430 0 30 1:1 30
12180 1 0.63 12,180 0.02 124 1:1 124
12300 1 0.63 12,300 0.02 125 1:1 125
39000 2 1.27 78,000 0.12 397 1:1 794
136560 1 0.63 136,560 0.2 1,390 1:1 1,390
146340 1 0.63 146,340 0.22 1,489 1:1 1,489
146370 2 1.27 292,740 0.44 1,490 1:1 2,980
292680 1 0.63 292,680 0.44 2,978 1:1 2,978
324390 1 0.63 324,390 0.48 3,301 1:1 3,301
1365000 1 0.63 1,365,000 2.04 13,891 1:1 13,891
1463400 2 1.27 2,926,800 4.36 14,893 1:1 29,786
2317050 1 0.63 2,317,050 3.45 23,580 1:1 23,580
2439000 1 0.63 2,439,000 3.64 24,821 1:1 24,821
2566980 1 0.63 2,566,980 3.83 26,110 1:1 26,110
3414630 2 1.27 6,829,260 10.18 34,734 1:1 69,468
3594270 2 1.27 7,188,540 10.72 36,562 1:1 73,124
3804870 2 1.27 7,609,740 11.35 38,704 1:1 77,408

C. Allocation to QIBs

Allocation to QIBs has been done on a proportionate basis in consultation with BSE. As per the SEBI regulations, Mutual Funds were initially allocated 5% of the quantum of shares available (79,625 Equity Shares) and other QIBs were allocated the remaining available shares (1,512,875 Equity Shares) on proportionate basis.

Category Fls/Banks Flls MFs ICs VCs Total
No. of Shares 227782 474967 851370 34123 4258 1592500

D. Allocation to Anchor Investors

Allocation to Anchor Investors has been done on a proportionate basis in consultation with BRLMs. As per the SEBI regulations, 30% of QIB Reservation (682,500 Equity Shares) was allocated to Anchor Investors.

Category MFs Total
No. of Shares 682500 682500

The Board of Directors of the company at the Board Meeting held on March 21, 2011, has taken on record the basis of allocation of shares approved by the Designated Stock Exchange viz., Bombay Stock Exchange Limited ('BSE'), Mumbai, of the Offer and has authorized the Corporate Action for the transfer of the shares to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and/or notices have been dispatched to the address of the investors as registered with the depositories on March 21, 2011. In case the same is not received, investors may contact at the address given below. The instructions to Self Certified Syndicate Banks ('SCSBs') for unblocking and transfer of funds have been sent on March 21, 2011 .The Refund Orders have been over-printed with the Bank Account details as registered, if any, with the depositories. The shares allocated to successful applicants have been credited to their beneficiary accounts on March 22, 2011, subject to validation of the account details with the depositories concerned. The Company has filed its Listing application with Bombay Stock Exchange Limited (the 'Designated Stock Exchange') on March 22, 2011. The Equity Shares are to be admitted for trading on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited on March 24, 2011 subject to receipt of necessary approvals.

INVESTORS PLEASE NOTE

This details of the allocation made would be hosted on the website of Registrars to the Offer, Link Intime India Private Limited at Website: www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrars to the offer quoting full name of the First/ Sole applicant, Serial number of the Bid cum Application Form, number of shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at the address given below:

Link Intime India Private Limited
C-13, Pannalal Silk Mills Compound, L.B.S. Marg,
Bhandup (West), Mumbai 400 078
Tel: +91 22 2596 0320, Fax: +91 22 2596 0329
Email ID: lovable.ipo@linkintime.co.in

Place: Mumbai
Date :  March 22, 2011

For Lovable Lingerie Limited
Mrs. Megha Maheshwari               Mr. Sunil Shukla
Company Secretary         Compliance Officer

Lovable Lingeries IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Lovable Lingeries IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Lovable Lingeries IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).
  2. 2. What is Lovable Lingeries IPO basis of allotment status?

    The Lovable Lingeries IPO basis of allotment (published above) tells you how shares are allocated to you in Lovable Lingeries IPO and category wise demand of IPO share.

    Visit the Lovable Lingeries IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Lovable Lingeries IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Lovable Lingeries IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).








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