Latent View Analytics's IPO closed, gets subscribed 338.51 times

• Latent View Analytics IPO was open to subscription from November 10 to November 12.
• Investors have bid for 572 crore shares from 1.75 crore shares open for subscription.
• The company is looking to raise ₹600 crore through public listing.

Among several initial public offerings (IPOs) that have been opened for subscription recently, Latent View Analytics IPO seeked huge response from investors.

The IPO has been subscribed 338.51 times by investors in the three days of the IPO bidding process. Non institutional investors have highly subscribed the shares reserved for them.

Overall, investors have bid for 572 crore shares as against 1.75 crore shares open for subscription.

The price band of the IPO is set at ₹190 -197 per share. One reason for the huge demand in the IPO is rising grey market premium which signals strong listing for the public issue. The grey market premium of the company’s shares stood at ₹220.
Latent View Analytics is looking to raise ₹600 crore through the public listing of shares. The IPO comprises a fresh issue of ₹474 crore and an offer for sale of ₹126 crore by existing shareholders and promoters.

The company will utilise net proceeds from the fresh issue of the IPO into inorganic growth initiatives, working capital requirements of subsidiary Latent View Analytics Corporation and investment in subsidiaries to augment the capital base.

Adding to it, analysts are bullish on the analytics services industry as they see future demand for such services to solve complex customer problems.

SEE ALSO: EaseMyTrip announces interim dividend of 50% after stellar profit growth

The 91-year old woman behind India’s most famous papad brand gets the fourth highest civilian honour ⁠— she started with ₹80