Shares of Latent View Analytics made a strong start on the exchanges today, leading to Against the issue price of 531 in opening trade 197. The IPO of Latent View Analytics Limited was the most successful IPO ever. The issue received overwhelming response from all categories of investors and was subscribed 326 times. The Retail Individual Investors (RIIs) segment was subscribed around 120 times, the non-institutional investors category was subscribed 850.66 times while the Qualified Institutional Buyers (QIBs) segment was subscribed 145.48 times.
NS 600 crores Incognito View Analytics The IPO included a new issue of 474 crore and offer for sale 126 crores. The price limit for the offer was fixed 190-197 per share. Before IPO, LatentView Analytics picked up 267 crore from anchor investors.
The proceeds from the new issue will be used for inorganic growth initiatives, working capital requirements of subsidiary Latent View Analytics Corporation and investments in the subsidiaries to increase their capital base for future growth and general corporate purposes.
Latent View Analytics is one of the leading pure-play data analytics services companies in India. It provides services across the entire value chain of data analytics from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering and digital solutions. Across industries, data and analytics.
Revenue from customers in the United States accounted for 94.79%, 91.69%, 92.88%, 92.33% and 90.91% of their revenues in the three months ended June 30, 2021 and June 30, 2020, and fiscal years 2021, 2020 and 2019 represented. Revenue from operations in such periods, and from operations from customers in the United Kingdom represented respectively 0.65%, 2.02%, 1.85%, 1.78% and 3.75% of their revenue from operations in such periods.
Several brokerage firms had recommended subscribing to the issue. “LatentView Analytics has recognized leadership positions in data and analytics with a wide range of capabilities, along with deep and strong relationships with blue chip clients across the industries and geographies in which the company operates. The future growth prospects look promising with an expectation of $333 billion with a CAGR growth of 18% by 2024,” said Anand Rathi.
“The company is available at the upper end of the IPO price band at 42.6x its FY21 earnings post equities, with a market cap of Rs 38,963 million. At the upper end of the IPO price band, the issue price is June 30 , at a P/BV of 7.29x based on a NAV of Rs 27.02 by 2021. The company has a healthy margin profile with a three-year average RONW of 21.15%. Keeping in mind the company’s plan for inorganic growth, its With its long-standing relationship with some of the Fortune 500 companies, its leadership position in the industry, we recommend this IPO with a “Subscribe” rating, the brokerage said in a note. (with agency input)
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