Inventure Growth and Securities showed stellar performance on listing day. The stock surged nearly 78% on Thursday to close at Rs 208 a share as against an issue price of Rs 117 on the BSE.
It has touched an intra-day high of Rs 225 and low of Rs 91.55 after opening the trade at Rs 119.
Major part was the volume—total traded quantity on both exchanges was more than 10.58 crore equity shares (15 times higher than the issue size of 70 lakh shares).
IPO shares were allotted to 1 foreign institutional investor, 19 corporate bodies and 14,500 retail investors.
In an interview with CNBC-Awaaz, Nagji K Rita, CMD of Inventure Growth said he saw 50-60% growth in FY12 profits. "We will focus more on arbitrage business and finance vertical."
Inventure's broker and operations are mainly in the western geography of the country.
Company raised Rs 81.9 crore through the issue, which it intends to use the proceeds for investment in its subsidiary - Inventure Finance Private Limited and long term working capital.
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