Mumbai based Inventure Growth & Securities Limited (Initial Public Offering) IPO has got 2 out of 5 by ICRA (rating agency) and this rating/grading is “Below Average” fundamentals for a financial services provider company IPO. The grade 2 indicates that the fundamentals of the IPO are “Below Average” compared to the other listed securities in India. The company is entering into primary market with an Initial Public Offering (IPO) of 7,000,000 Equity Shares of Rs 10 each. The premium of the issue will be decided through a 100% Book Building Process. The company is likely to raise around Rs 81.90 Crore through the issue at the upper level of price band. Inventure Growth & Securities Limited (IGSL) is in the business of providing services in equity cash and derivatives market, debt market, commodities and currency futures segment to financing activity, wealth management, and distributions of financial product.
The proceeds of the IPO are proposed to be utilized for investment in the company’s subsidiary, Inventure Finance Pvt Ltd, to meet long term working capital requirement, general corporate purposes and IPO expenses.
The Sole Book running lead manager (BRLM) to the issue is Intensive Fiscal Services Private Limited.
Registrar of the Issue : Link Intime India Private Limited.
Stay tuned to BelltheBull Blog for more on Inventure Growth & Securities IPO !Google+