15 Nov , 2021 By : Kanchan Joshi
The initial public offer (IPO) of Latent View Analytics Limited became the most subscribed issue in India as investors rushed to bet on the data analytics company. It received an overwhelming response from all categories of investors and got subscribed a whopping 326.49 times on the last day on Friday.
The IPO aggregating up to Rs600 crore has a fresh issue of up to Rs474 crore and an offer for sale of up to Rs126 crore. Price range for the offer s has been fixed at Rs190-197 per share. Latent View Analytics raised Rs267 crore from anchor investors ahead of its issue.
The finalization of basis of share allotment of Latent View Analytics IPO is expected to take place on Wednesday November 17, 2021 and if allotted, then the credit of shares to demat account of bidders will be done on November 22, 2021. The registrar for this IPO is Link Intime India Private Limited, therefore the allotment application can be checked in its website here or on the BSE website here.
As per market observers, Latent View Analytics shares premium (GMP) in the grey market have surged to Rs345. The shares of the company are expected to list on leading stock exchanges BSE and NSE next week on November 23, 2021.
Proceeds from the fresh 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.
Latent View Analytics witnessed a record subscription, surpassing the IPO of Paras Defence and Space Technologies that received a whopping 304.26 times subscription in September.
0 Comment