The IPO of Latent View Analytics opens for public subscription later this week, on November 10. The data and analytics firm has fixed a price band of Rs190-197 a share for its Rs600-crore initial share-sale that is scheduled to conclude on November 12.  The lot size is 76 shares. Up to 75% of the issue has been reserved for qualified institutional buyers, 15% for non-institutional investors and the remaining 10 per cent for retail investors.

In the grey market, Latent View Analytics is quoting at a premium or GMP (grey markets premium) of Rs210, suggesting the possibility of strong demand for the issue, according to market observers.  

Latent View Analytics is a data analytics firm, delivering solutions that help companies drive digital transformation and use data to gain a competitive advantage. 

Link Intime India Private is the registrar of Latent View Analytics and will manage the share allocation and refund. 

Tentative timeline: The share allocation in Latent View Analytics issue is likely to happen on November 16 and allocation on November 22, according to brokerages. 

The IPO comprises fresh issue of equity shares worth Rs474 crore and an offer of sale of equity shares to the tune of Rs126 crore by a promoter and existing shareholders.

The proceeds from the fresh issue of shares will be used to fund inorganic growth initiatives; working capital requirements and general corporate purposes.

As a part of the offer for sale, promoter Adugudi Viswanathan Venkatraman will offload shares worth Rs60.14 crore, shareholder Ramesh Hariharan will sell Rs35 crore shares and Gopinath Koteeswaran will offload Rs23.52 crore shares among others.

At present, Venkatraman owns 69.63 per cent stake in the company, Koteeswaran holds 7.74 per cent stake and Hariharan has 9.67 per cent holding in the firm. Axis Capital, ICICI Securities and Haitong Securities India are the book running lead managers to the issue.

Latent View provides services ranging from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering and digital solutions. In the year 2020-21, Latent View had clocked revenues of Rs326 crore, with net profit of Rs91 crore.

According the the prospectus, the analytics services market is expected to grow at a CAGR of 19% and poised to touch approximately $68 billion in 2024. India is the top outsourcing destination for analytics, and Indian companies including Multi Service Providers and Pure Play Analytics firms have a share of approximately 40% of the addressed market, it says.