Latent View Analytics makes stellar debut on bourses, lists at 169% premium
Premium- Latent View's initial public offering became the most subscribed issue of the year 2021 with the offer getting bids more than 338 times
Shares of Latent View Analytics Ltd made a blockbuster debut on the stock exchanges on Tuesday, listing at a premium of 169% to the issue price of ₹197 apiece.
Its initial public offering became the most subscribed issue of the year 2021 with the offer getting bids more than 338 times.
The shares opened at ₹530 and gained as much as 169%. They touched a high of ₹548.75. The stock is available at the upper end of the IPO price band at 42.6x its FY21 earnings.
"The Company has a healthy Margin profile with three years average RoNW of 21.15%. Considering the Company’s plan for inorganic growth, longstanding relationship with some of the fortune 500 companies, its leadership position in the Industry we (are positive on the firm)", Anand Rathi Research said in a note to its investors.
The IPO consisted of a fresh issue of ₹474 crore and an offer for sale of up to ₹126 crore by its existing shareholder and promoters.
The OFS comprised shares worth up to ₹60.15 crore by Adugudi Viswanathan Venkatraman, up to ₹23.52 crore by Gopinath Koteeswaran, up to ₹35 crore by Ramesh Hariharan, up to ₹3.87 crore by Subramanian Ramachandran, up to ₹1.19 crore by Divya Balakrishnan, up to ₹1.15 crore by Rajkumar Kaliyaperumal, up to ₹73.50 lakh by Priya Balakrishnan.
The proceeds from the issue worth ₹147.90 crore will be used for funding inorganic growth initiatives; ₹82.40 crore will be used for funding working capital requirements of its material arm LatentView Analytics Corp and ₹130 crore for investment in its arm to augment its capital base for future growth.
The firm is among the leading pure-play data analytics companies in India and has emerged as one of the most trusted partners to several Fortune 500 companies in recent years. It provides services primarily to companies in Technology, CPG and Retail, Industrials, and BFSI industries. It has a diversified client base of 45 active clients worldwide that it served in Fiscal 2021, including 21 of the Fortune 500, three of the Fortune 1000.
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