Inventure Growth & Securities' initial public offer (IPO) was subscribed 0.3 times and got bids for 20.81 lakh shares as at 16:00 IST on day one of bidding for the IPO today, 20 July 2011. The company is offering 70 lakh shares in price band of Rs 100 to Rs 117 per share in the ongoing IPO which closes on 22 July 2011.

Ratings firms Fitch Ratings India and ICRA have assigned an IPO grade 2 to IPO of Inventure Growth & Securities. Major portion of the IPO proceeds will be utilized as an investment in one of the subsidiaries Inventure Finance and for augmenting long term working capital requirements.

Inventure Growth & Securities provides trading services in equity cash and derivatives market, debt market, commodities and currency futures segment. It is also into wealth management and distributions of financial products.