Latent View Analytics IPO Subscription Status Day 2 – Subscribed 23.2 times; retail portion booked 69.5 times

The initial public offer (IPO) of Latent View Analytics oversubscribed 23.22 times on the second day of bidding till 5:00 pm. The three-day IPO has begun on November 10 and will end on November 12, 2021.

The Rs 600-crore IPO received bids for 40,69,77,264 shares against 1,75,25,693 shares on offer, as according to the data available on BSE. The price band set for IPO is Rs 190-197 per share.

The retail investors queued most to subscribe for the IPO by 69.56 times, followed by non-institutional investors by 33.29 times and qualified institutional buyers’ quota has been subscribed 3.51 times on the second day of the initial share sale.

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Earlier, the company has fixed a price band of Rs 190-197 per share for this IPO. This will be Rs 600-crore initial share-sale. The IPO comprises fresh issue of equity shares worth Rs 474 crore. An offer of sale of equity shares to the tune of Rs 126 crore by a promoter and existing shareholders.  

"Apply for big listing gains and with long term vision in this IPO. Good track record of promoters with no litigations, new age business with a strong growth outlook and strong financial and profitability works well for this IPO," Zee Business Managing Editor Anil Singhvi had said while recommending it.

Latent View Analytics provides analytics services such as data and analytics consulting, business analytics and insights, advanced predictive analytics, data engineering, and digital solutions. The company caters to blue-chip companies in technology, banking, financial services and insurance (BFSI), consumer packaged goods (CPG) companies and retail, industrials, and other industry domains.

The company plans to use the proceeds from the fresh issue 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.