Mumbai based Inventure Growth & Securities Limited is entering into primary market with an Initial Public Offering (IPO) of 7,000,000 Equity Shares of Rs 10 each. The IPO is opening on 20th July 2011 and the shares will be available for subscription up to 22nd July 2011. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 100 – Rs. 117 Per Equity Share. 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 equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
IPO Summary :-
IPO Open : 20th July 2011 – 22th July 2011
IPO Type : 100% Book Built Issue IPO
IPO Size : 7,000,000 Equity Shares of Rs 10 each
IPO Size : Rs 70.00 – 81.90 Crore
Face Value : Rs 10 Per Equity Share
IPO Price : Rs 100 – Rs 117 Per Equity Share
Minimum Bid Quantity : 50 Shares (Rs. 5850 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 1700 Shares (Rs. 198900 with 34 Lots ) @ upper level of price band
Listing At : BSE, NSE
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.
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