Inventure Growth and Securities , a Mumbai based brokerage firm, has touched a low of Rs 103.4 in the early trade after opening at its issue price of Rs 117 a share on the National Stock Exchange.
At 9:42 hours IST, the stock was trading at Rs 115.45, down 1.3% from the issue price after hitting a high of Rs 124. Traded volume on both exchanges was more than one crore shares while the issue size was of 70 lakh shares.
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."
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.
"We will open merchant banking unit soon. We are also planning to enter in the business of loan against gold," he said.
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