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Brokerage firm Inventure Growth & Securities, which listed with a premium of nearly 2 per cent at Rs 119 on Bombay Stock Exchange today, said it will invest Rs 30 crore in expanding its subsidiary Inventure Finance.
“We are planning to utilise Rs 30 crore in expanding our non banking finance company (NBFC) — Inventure Finance, about Rs 20 crore for augmenting long-term capital requirements and the rest for general corporate purposes,” Inventure Growth & Securities (IGSL) Chairman and Managing Director, Mr Nagji K. Rita, told reporters after the listing here on BSE.
The company had raised about Rs 82 crore through an initial share sale last month.
IGSL was listed at Rs 119 on BSE, reflecting a gain of 1.70 per cent against the issue price of Rs 117 a share.
Later in afternoon trade, the shares were quoted at Rs 121.85, a gain of 4.14 per cent over the issue price.
Similarly, on NSE the stock debuted at Rs 117 and within minutes touched an early high of Rs 124. Later in afternoon trade, the stock was trading 4.57 per cent higher at Rs 122.35.
The company, which mostly operates in Maharashtra, Gujarat and Rajasthan, is planning pan-Indian operations through franchise model and offer new services such as merchant banking and gold loans soon, he said.
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