Shares of Latent View Analytics Ltd., the most subscribed issue of the year so far, more than doubled on market debut.
The stock listed at Rs 512.2 apiece, a 160% premium to its IPO price of Rs 197, according to Bloomberg data. It then hit an intraday high of Rs 548.75, up over 178% and low of Rs 461.1, which is 134% above its IPO price. The scrip ended its first day on the bourses at Rs 488.75, about 148.1% higher.
The Rs 600-crore IPO by the data analytics firm received 305.98 times more demand than the shares on offer. That's more than Paras Defence & Space Technologies Ltd.'s 304.3 times bid.
Non-institutional investors led the bidding for Latent View, with the portion reserved for them subscribed more than 800 times. Shares set aside for the retail and the institutional categories were also oversubscribed.
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