Friday, July 15, 2011

Inventure Growth and Securities IPO

Inventure Growth and Securities, a Mumbai based broking firm is entering capital market with a public issue of 70 lakh equity shares of Rs 10 each which constitutes 33.33% of the fully diluted post issue paid up capital of the company. The company provides trading services in equity cash and derivatives market, debt market, commodities and currency futures segment. It is also into wealth management and distributions of financial product.

The IPO shall open on July 20 and shall close on July 22, 2011. The company has fixed price band at Rs 100-117 per equity share.

The company intends to utilize the proceeds of the IPO for investment in subsidiary - Inventure Finance Private Limited and long term working capital.

Intensive Fiscal Services Pvt Ltd is the book running lead manager to the issue and Link Intime India Pvt Ltd is the registrar.

Recommendation:
Fitch Ratings India Private Limited and ICRA has assigned Grade 2 to the IPO. We would not recommend this IPO to investors for now.

Subscription:
Inventure Growth and Securities has  managed to get 4 times subscribed.

At the close of the day,
QII segment got subscribed by 0.25 times
NII segment got subscribed by 9.49 times
Retail segment got subscribed by 8.66 times

Allotment:
Click here to check Inventure Growth IPO Allotment status!

Listing:
Inventure Growth and Securities IPO got listed on 4th August, 2011. The stock surged nearly 78% on Thursday to close at Rs 208 a share as against an issue price of Rs 117 on the BSE. It has touched an intra-day high of Rs 225 and low of Rs 91.55 after opening the trade at Rs 119.