Lovable Lingerie Ltd, Mumbai-based women's innerwear manufacturer, is entering the Indian Capital Market with its initial public offer (IPO) of 45.5 lakh equity shares of Face value Rs 10 each.

The IPO will open on March 8, 2011 and will close on March 11, 2011.

The company has fixed the price band at Rs 195-205, for its IPO in order to raise up to Rs 932.8 million, the company said in a newspaper advertisement today.

The issue would constitute 27.08 percent of the post issue paid-up capital of the company.

The company plans to utilize the IPO proceeds for a manufacturing facility as well as brand promotion and retail expansion.

Anand Rathi Financial Services is the sole manager to the issue.

Meanwhile, the company last month has raised Rs 20 crore through a pre-IPO placement of 10 lakh equity shares with SCI Growth Investments II at a price of Rs 200 per share, which includes a premium of Rs 190 per share. The pre-IPO placement constitutes 5.95% of the fully diluted equity stake in the company post its IPO of 45,50,000 equity shares of Rs 10 each at a price to be determined by the book building process.