Inventure Growth & Securities' initial public offer (IPO) was subscribed 3.90 times and got bids for 2.73 crore shares by 16:00 IST on the last day of bidding for the IPO today, 22 July 2011. The company had offered 70 lakh shares in price band of Rs 100 to Rs 117 per share.

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.