New Delhi: Shares of data analytics firm Latent View Analytics opened at a 160 per cent premium to their offer price on Tuesday, joining a slew of domestic companies that have seen stellar market debuts in 2021.
Latent View debuted at Rs 512.20 on the NSE index, compared to the offer price of Rs 197, giving it a market valuation of Rs 10,132 crore. The stock opened at Rs 530 on the BSE platform.
The company's initial public offering (IPO) was oversubscribed more than 300 times.
Non-institutional investors had put in bids 850.66 times the portion set aside for them, and qualified institutional buyers bought shares 145.48 times the reserved portion. Retail investors subscribed for shares 119.44 times the portion set aside for them and employees' portion was subscribed 3.87 times.
The company, which provides services to blue-chip companies in Technology, BFSI, CPG & Retail, Industrials, and other industry domains, had raised Rs 600 crore through its maiden public issue.
The offer was composed of a fresh issue of Rs 474 crore and an offer for sale by selling shareholders.
The global data and analytics market is expected to grow at a CAGR (compound annual growth rate) of 18 per cent from $174 billion in FY20 (2019-20) to $332.6 billion by FY24 (2023-24).
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