Latent View Analytics made a strong market on the bourses on Tuesday despite weakness in the secondary market. The shares are listed at Rs 530 per share on the BSE, a 169 per cent premium against the issue price of Rs 197 per share. On the National Stock Exchange (NSE), the shares debuted at Rs 512, up 160 per cent against the issue price.
However, the stock witnessed mild profit booking at higher levels but continued to trade significantly higher than the issue price. In the morning, it quoted at Rs 498 apiece, still up 153 per cent against the issue price. A combined 16.71 million shares had changed hands on the NSE and BSE until the writing of this report.
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The high net worth individual (HNI) portion of the IPO garnered nearly 882x subscriptions, with bids totaling Rs 78,498 crore. The retail amount was subscribed 124x, and the institutional investor portion saw over 150x subscriptions. The price band for the IPO has been set at Rs 190-197 per share.
The firm is among the leading pure-play data analytics services companies in the country. The company functions in areas such as consulting services, data engineering, business analytics and digital solutions.
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