Latent View Analytics IPO Listing Today: All eyes are set on India’s most oversubscribed initial public offering, which is scheduled to be listed at the Dalal Street on Tuesday, November 23. The Latent View Analytics IPO made the record of getting subscribe 338 times, more than any public offer ever, by the end of its closing day. The data analytics service firm will get listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) at 10 am on the day. Latent View Analytics, a data analytics firm, gives solutions to companies helping them with driving digital transformation and using data to gain a competitive advantage among its peers.
Latent View Analytics Limited aimed to raise Rs 600 crore through the IPO. Of this, Rs 474 crore was supposed to be raised though a fresh issue, while Rs 126 crore was to be raised through an offer for sale (OFS) by selling shareholders. The company will not receive any proceeds from the OFS. The company had fixed a price band of Rs 190-197 a share for its maiden share sale. The lot size was 76 shares. Qualified institutional buyers could buy up to 75 per cent of the shares, while non-institutional investors could bid for 15 per cent of the shares. The remaining 10 per cent had been reserved for retail investors.
The stellar response received from the Latent View Analytics IPO is backed by strong demand from qualified institutional buyers and non institutional buyers. As per data, non institutional investors have bought shares 151 times and qualified institutional buyers have subscribed 882 times the portions reserved for them by the end of the third day of subscription.
Going by the grey market premium of the Latent View Analytics IPO, experts predict a strong listing of the company at the BSE and the NSE. The grey market was fetching a premium of over Rs 300 for Latent View Analytics ever since the issue was opened. On Tuesday, Latent View Analytics’ unlisted shares has been trading at Rs 497 in the grey market, according to IPO watch. Hence, Latent View IPO grey market premium was Rs 300 on Tuesday, November 23.
Latent View Analytics Limited has partnered with many of the largest enterprises in the world, and has held relationships with its top five clients by revenue for Fiscal 2021, that includes some of the Fortune 500 companies, for an average of over six years as of September 30, 2021. As of September 30, 2021, the company had been engaged by a US-based global software giant for over 10 years, by a US-based multinational e-commerce corporation for over eight years, and by a US based global internet digital marketing and search giant for over five years.
The company’s business model is supported by stable and recurring revenues, significant operating leverage and low capital requirements that contribute to a healthy free cash flow. Its high levels of client retention and shift toward multi-year engagement contracts result in a high degree of revenue visibility.
Most analysts have given a ‘subscribe’ rating to the Latent View IPO. In a note, brokerage house Anand Rathi said, “The company is available at the upper end of the IPO price band at 42.6x its FY21 earnings attributable to post issue equity, demanding a market cap of Rs. 38,963 million. At the upper End of the IPO price band, the issue is priced at a P/BV of 7.29x based on its NAV of Rs. 27.02 as of June 30, 2021. The Company has a healthy Margin profile with three years average RoNW of 21.15 per cent. Considering the Company’s plan for inorganic growth, longstanding relationship with some of the fortune 500 companies, its leadership position in the Industry.”
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