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Inventure Growth & Securities Ltd (IGSL), a domestic brokerage house, today listed at Rs 119 on the BSE vis-a-vis the issue price of Rs 117 a share.
Shares of the company went up by 1.70 per cent in the opening trade on BSE against the issue price. Similarly, on NSE the stock debuted at Rs 117 and within minutes touched an early high of Rs 124.
Later, the stock erased much of its gains and was trading down by over 3 per cent on the bourses.
The company, which mopped up about Rs 81.90 crore through its IPO, offers advisory services along with trading services in cash and derivatives equity market, debt market, commodities and currency futures.
The initial public offering (IPO) of the company was open from July 20-22, 2011 and was oversubscribed 4.54 times.
The IPO proceeds will be used for investment in the company subsidiary, Inventure Finance Private Ltd, augmenting long-term working capital requirements and general corporate purposes.
IGSL has direct interests in equity, debt and currency futures broking, depository activities, PMS and other activities such as commodity broking, non-banking financial services, wealth management and sale of insurance products provided through its subsidiaries.
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