Latent View IPO: The finalisation of the share allotment of India’s most subscribed initial public offer, issued by Latent View Analytics is likely to be done on Saturday, November 20. The share allotment for the Latent View Analytics IPO started two days back, amid a continued rush among companies to float a public offer and raise funds for themselves. In this regard, Latent View Analytics Limited, a data analytics services company, has made a record by being oversubscribed by 326.49 times which is higher than any issue ever. The stock will most likely be listed on November 22, Monday, at the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). This will come days after Paytm and Sapphire Food stocks got listed at the Dalal Street.
Latent View Analytics IPO Listing, Refund Dates
The issue which opened on November 10 closed for bidding on Friday, November 12 after a three-day process. The share allotment process started on November 17 and likely to end on November 20. The IPO is expected to list on November 20 at the NSE and the BSE. The refund for those who did not get the shares was done on November 18, and crediting to demat account for eligible investors started on November 19. Applicants can check the status of their applications in two ways — a) via BSE b) via registrar’s website. The registrar for the issue was Link Intime India.
Latent View IPO Details, Price
Latent View Analytics had aimed to raise Rs 600 crore through the IPO. Of this, Rs 474 crore is supposed to be raised though a fresh issue, while Rs 126 crore was set to be raised through an offer for sale (OFS) by selling shareholders. The company will not receive any proceeds from the OFS. The company had fixed a price band of Rs 190-197 a share for its maiden share sale. The lot size was 76 shares. Qualified institutional buyers could buy up to 75 per cent of the shares, while non-institutional investors could bid for 15 per cent of the shares. The remaining 10 per cent had been reserved for retail investors.
Latent View IPO GMP Today
As of November 19, Friday, the grey market premium or GMP of Latent View Analytics IPO was fixed at Rs 320. This was almost 300 per cent up over the higher end of the issue price of Rs 163. The stocks were trading at Rs 483 on the day. The high GMP indicated strong listing for Latent View Analytics shares on NSE and BSE later this month.
Objectives of Issue
Axis Capital, ICICI Securities and Haitong Securities India Private Limited are the lead managers to the Latent View IPO. The company plans to utilise the proceeds from the fresh issue in funding inorganic growth initiatives (Rs 147.9 crore), working capital requirements of LatentView Analytics Corporation, its material subsidiary (Rs 82.4 crore). The proceeds will also be used for investment in subsidiaries to augment its capital base for future growth and for general corporate purposes.
Company Details
Latent View Analytics Ltd (LVAL) is among the leading pure-play data analytics services companies in India based on its expertise of the entire value chain of data analytics from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering and digital solutions. The company serves clients across countries in the United States, Europe, and Asia through its subsidiaries in the United States, Netherlands, Germany, United Kingdom and Singapore, and its sales offices in San Jose, London and Singapore.
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