Home / Markets / Ipo /  Latent View Analytics IPO sees record-breaking demand. Latest GMP here
Listen to this article

The IPO rush continued this week. Latent View Analytics' initial public offering (IPO),which opened for public subscription on Wednesday, witnessed a massive demand from investors. The three-day issue will concluded today and the price band was fixed at 190-197 per share. 

Latent View IPO was oversubscribed by a whopping 326 times with retail investors' portion booked 120 times, BSE data showed. Non Institutional Investors (NIIs) bid the most at 850 times and QIBs 145 times.

The IPO comprises fresh issue of equity shares worth 474 crore and an offer of sale of equity shares to the tune of 126 crore by a promoter and existing shareholders. The company provides services ranging from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering and digital solutions.

As per market observers, Latent View Analytics shares premium (GMP) surged to 295 in the grey market today. Analysts believe Latent View Analytics IPO provides an opportunity to invest in a pure-play analytics company.

“We believe Latent view has distinctive product offerings, relevant experience and capabilities to manage customers which aid in driving the company’s revenue and operating efficiencies. Going ahead, the company’s strategy is to put efforts towards innovation, adopt a focused go-to-market strategy to gain visibility, strengthen client base and expand geographic presence. Also, it intends to expand via inorganic growth opportunities. On the financial front, the company’s performance is decent. From a long term perspective, we have a positive view on the company," said Religare Broking in a note.

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

“Latent View provides niche solutions which are mostly in the Descriptive and Diagnostic solutions and Predictive analytics segments. These are expected to grow faster than the overall Data & Analytics market. The company is raising fresh capital and already has around 300 crore in cash which can aid in chasing growth. Hence on a forward basis, the valuations are quite attractive and hence we recommend SUBSCRIBE on the issue," said Milan Desai, Lead Equity Analyst, Angel One Ltd.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout