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The initial public offer (IPO) of Latent View Analytics received bids for 5,72,18,82,528 shares as against 1,75,25,703 shares on offer, according to stock exchange data at 17:00 IST today. The issue was subscribed 326.49 times. The issue opened for bidding on 10 November 2021 and it will close today, 12 November 2021. The price band of the IPO is fixed at Rs 190-197. An investor can bid for a minimum of 76 equity shares and in multiples thereof. Ahead of the IPO, Latent View Analytics on 9 November 2021 finalized allocation of 1,35,53,898 equity shares to anchor investors at Rs 197 per share, aggregating to Rs 267.01 crore. The IPO comprises a fresh issue worth upto Rs 474 crore by the company and an offer for sale worth upto Rs 126 crore by selling shareholders. The company proposes to utilize the net proceeds of the fresh issue towards funding inorganic growth amounting to Rs 147.90 crore, funding working capital requirements of its material arm, Latent View Analytics Corp amounting to Rs 82.40 crore and investment in its arm to augment its capital base for future growth amounting to Rs 130 crore. The capital base is being augmented to fund its inorganic growth. The company has started evaluating young start-ups for mergers and acquisition which will drive inorganic growth. Latent View Analytics is one among the leading pure play data analytics companies in India. The business of the company can be broadly classified into: Consulting services that involves understanding relevant business trends, challenges and opportunities and preparing a roadmap of data and analytics initiatives that addresses them; Data engineering that is undertaken to design, architect and implement the data foundation required to undertake analytics; Business analytics that delivers analysis and insights for clients to take more accurate, timely and impactful decisions; and Digital solutions that it develop to automate business processes, predict trends, and generate actionable insights. The company serves clients across countries in the United States, Europe, and Asia through its subsidiaries in the United States, Netherlands, Germany, United Kingdom and Singapore, with its sales offices in San Jose, London and Singapore. The company reported a consolidated net profit of Rs 22.30 crore and sales of Rs 87.80 crore as on 30 June 2021. Powered by Capital Market - Live News
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