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Latent View Analytics makes stellar market debut, stock lists at 169% premium to issue price

Latent View Analytics makes stellar market debut, stock lists at 169% premium to issue price

The data analytics services firm made its market debut at Rs 530 per share (up 169 per cent) on the Bombay Stock Exchange (BSE) against the IPO issue price of Rs 197.

Latent View Analytics makes stellar market debut, stock lists at 169% premium to issue price Latent View Analytics makes stellar market debut, stock lists at 169% premium to issue price

Shares of Latent View Analytics listed at a premium of 169% to the issue price today, marking a strong listing on Dalal Street.

The data analytics services firm made its market debut at Rs 530 per share (up 169 per cent) on the Bombay Stock Exchange (BSE) against the IPO issue price of Rs 197. Price band of the IPO was fixed at Rs 190 to Rs 197 per share.

On NSE, the shares debuted at Rs 512.20 per share, up 160 per cent. Market cap of the firm rose to more than Rs 10,000 crore. The share hit a fresh high of Rs 548.75 in early trade on NSE.

The share sale of Latent View Analytics was subscribed a whopping 326.49 times on the final day of subscription.

The Rs 600 crore-IPO received bids for 5,72,18,82,528 shares against 1,75,25,703 shares on offer, according to NSE data.

The portion for non-institutional investors was subscribed a massive 850.66 times. Qualified Institutional Buyers (QIBs) put in bids for 145.48 times during the IPO. The portion for retail individual investors (RIIs) was subscribed 119.44 times on the final day.

Latent View Analytics raised Rs 267 crore from 34 anchor investors on November 9.  

The company finalised allocation of 1,35,53,898 equity shares to anchor investors, at a price of Rs 197 per share, the upper price band of the IPO.

The proceeds from the issue will be used for funding inorganic growth initiatives, working capital requirements of the subsidiary Latent View Analytics Corporation, and investment in subsidiaries to augment their capital base for future growth and general corporate purposes.

The company provides services ranging from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering, and digital solutions.