Latent View Analytics more than doubles money for IPO investors
- Shares of
Latent View Analyticslist at ₹530 while the shares were allotted at ₹197 per share.
- The IPO was subscribed 338.51 times on the last day of the bidding, breaking the record set by Paras Defence a few weeks ago (304 times).
- The market capitalisation of the company stood at ₹10,484 crore.
AdvertisementShares of Latent View Analytics made a strong listing on the National Stock Exchange (NSE) and BSE at 169% premium over the issue price of ₹197 apiece.
Post-listing, the market capitalisation of the company stood at ₹10,484 crore, according to BSE data.
The shares of Latent View Analytics were trading at ₹527, higher by 166% at 10.00 a.m., on November 23. The grey market showed a strong listing for Latent View Analytics a day prior to the listing with a ₹360 premium per share.
Moreover, the IPO — open between November 10 and November 12 — was a hit among investors. It was subscribed 338.51 times on the last day of the bidding.
The 15-year old company provides analytics services such as data and analytics consulting, business analytics and insights, advanced predictive analytics, data engineering, and digital solutions. Latent View Analytics wanted to raise ₹600 crore through its IPO. The public issue consisted of a fresh issue of ₹474 crore and an offer for sale of ₹126 crore, which went to the existing shareholders who were selling their shares in the issue.
The company will use the net proceeds to fund its organic growth initiatives and meet working capital requirements.
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