*Inventure Growth & Securities Ltd *is planning to raise funds through IPO and has filed a DRHP with SEBI for the same.
The company will issue 70lakh shares of face value of Rs 10 each. The funds ill be utilized for investment in subsidiary, augmenting long term working capital requirement and for general corporate purposes as per the DRHP. The IPO is based on 100 per cent book building process. * Intensive Fiscal Services Pvt Ltd* has been appointed as the lead manager to the issue. The company will utilize Rs 30cr for investment in its subsidiary--Inventure Finance Pvt Ltd (which is an NBFC)--and Rs 20cr for augmenting long term working capital requirement while the rest of the amount will be used for general corporate purpose. The company is also considering a pre-IPO placement of Rs 1.5cr or upto 16.50lakh shares with various investors. Inventure Growth & Securities Ltd, incorporated in 1995, is promoted by *Nagji K. Rita* and his family. The company has a net worth of Rs 68.41cr and it reported profit after tax of Rs5.58cr as on September 2009. The promoter group holds 79.96% stake in the company. After the issue, the promoter stake will come down to 53.31%. Inventure Growth & Securities offers trading services in equity cash and derivatives market, debt market, commodities and currency futures segment, wealth management and distribution of financial products. The company has recently applied to SEBI for a PMS license, to NSE for a trading member of wholesale debt market and to IRDA for direct insurance broker licenses, as per the DRHP. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
