<article>Private Equity firm Nalanda Capital has part-exited its over two years old investment in <a style="color: #000080;" href="http://www.lovableindia.in/" target="_blank">Lovable Lingerie Ltd</a>, a Mumbai-based women innerwear manufacturer.</article>

Private Equity firm Nalanda Capital has part-exited its over two years old investment in <a style="color: #000080;" href="http://www.lovableindia.in/" target="_blank">Lovable Lingerie Ltd</a>, a Mumbai-based women innerwear manufacturer.
This comes soon after the PE firm <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/india-pe- firm-nalanda-capital-offloads-6-3-more-in-triveni-engineering-20347/" target="_blank">divested</a> bulk of its stake in sugar manufacturing firm Triveni Engineering &amp; Industries Ltd.
Nalanda has sold its 2.04 per cent stake in the lingerie maker for around Rs 8 crore ($1.2 million), having booked a loss of around 40 per cent on its original investment in 2013, as per a DEALSTREETASIA estimation.
It had originally invested around Rs 25 crore in 2013 for over 5 per cent stake. After a year of that, the PE firm bought more shares, hiking its stake to 8.79 per cent in Lovable Lingerie.
An email query sent to Nalanda&#8217;s spokesperson to know more about the deal, did not reply till the time of filing this article.
In April this year, VC firm Sequoia Capital had exited Lovable Lingerie by selling its entire stake in the company, almost doubling its investment in over four years.
Incorporated in 1987, Lovable Lingerie manufactures women innerwear including products like brassieres, panties, slips, camisoles, homewear, shapewear, foundation garments and sleepwear etc. The compay which went public in 2011, raised Rs 93 crore during the initial public offering (IPO).
As of Sep 30, 2015, Nalanda Capital is the only PE firm, which held stake in the company with its holding down to 6.75 per cent.
Lovable Lingerie last changed hands at Rs 227.20 per share, down 4.14 on BSE in a strong Mumbai market on Friday.
The company had a net profit of Rs 4.39 million in the second quarter ended Sep 30, 2015, booked a loss of over 100 percent as compared with first quarter&#8217;s Rs 12.22 million in June 30, 2015.
For Nalanda, this is the second known part-exit this year from its portfolio firm after it exited Triveni Engineering. Though it has been hiking stake in the companies which include kitchen appliances maker TTK Prestige and ELGI Equipments, an air compressor manufacturer.
As per the sharholding pattern on Sep 30, 2015, The PE firm also holds around 10 per cent stake in Page Industries Ltd which operates under the innerwear brand Jockey.
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Nalanda Capital has part-exited its over two years old investment in Mumbai-based Lovable Lingerie Ltd, a Mumbai-based women innerwear manufacturer.

India: Nalanda Capital part-exits Mumbai-based lingerie maker Lovable

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