Latent View IPO: The company has fixed a price band of Rs 190 - Rs 197 per share
- Data analytics frim Latent View has fixed a price band of Rs 190 - Rs197 per share for its Rs 600-crore initial share-sale.
- The public issue opens today-November 10 and closes on Friday, November 12 - remaining open for investors for a period of three days. The basis of allotment date is likely to be on November 17.
- The IPO comprises fresh issue of equity shares worth Rs 474 crore and an offer-for-sale of equity shares worth Rs 126 crore by the promoter and existing shareholders.
- Up to 75 percent of the issue has been reserved for qualified institutional buyers, 15 percent for non-institutional investors, and the remaining 10 percent for retail investors, according to Latent View.
- Latent View will utilise the IPO proceeds to fund inorganic growth initiatives, working capital requirements, and for general corporate purposes.
- Adugudi Viswanathan Venkatraman and Pramadwathi Jandhyala are the company promoters. Axis Capital Limited, Haitong Securities India, and ICICI Securities are the IPO lead managers
- Latent View reported revenues of Rs 326 crore in the year 2020-21 with net profit of Rs 91 crore. According the prospectus, the analytics services market is expected to average an annual compounded growth rate 19 percent and poised to touch approximately $68 billion in 2024.
- Established in 2006, Latent View has presence in US, Europe, and Asia through its subsidiaries and sales. It reported revenue of Rs 326 crore in the year 2020-21 with a net profit of Rs 91 crore.
- Latent View provides services to blue-chip companies in sectors such as technology, CPG & retail, BFSI, industrials, and other industry domains. It classifies its business into consulting services, data engineering, business analytics, and digital solutions.
- As of 10:47 am, Latent View IPO is subscribed 1.36 times on its first day of issue, according to data on the stock exchanges. The retail portion is subscribed 7.41 times so far.
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