Inventure Growth & Securities IPO subscribed 4.58 times

Gets bids for 3.20 crore shares

Inventure Growth & Securities' initial public offer (IPO) was subscribed 4.58 times and got bids for 3.20 crore crore shares. The company had offered 70 lakh shares in price band of Rs 100 to Rs 117 per share.

The qualified institutional buyers (QIBs) category was undersubscribed with just 25% bids. QIBs bid for 8.70 lakh shares compared with 35 lakh shares allotted for this category by the company. The non institutional investors category was subscribed 9.49 times and the retail investors category was subscribed 8.66 times.



Inventure Growth & Securities 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 products.

A major portion of the IPO proceeds will be utilised as an investment in one of the subsidiaries--Inventure Finance and for augmenting long term working capital requirements.

Inventure Growth & Securities reported a net profit of Rs 6.21 crore on total income of Rs 31.16 crore for the year ended March 2011.