Software company Latent View Analytics jumps 2.5 times in stellar list
The share of software company Latent View Analytics rose 2.5 times from the IPO price on its first day of trading on Tuesday. It ended at Rs 489, up Rs 292 from the issue price of Rs 197. The action reached a high of Rs 549 and a low of Rs 462. Market participants said that at higher levels, wealthy investors have rushed to record profits to recoup their investment cost.
Latent View’s IPO was underwritten 339 times, making it the most widely traded IPO ever. The HNI portion of the IPO was subscribed 882 times. The break-even cost for HNI was Rs 520 per share. Market participants said that despite the stellar list, some HNIs left their positions with losses. At the last close, the company was valued at Rs 9,665 crore against Rs 3,900 crore sought at the IPO.
Latent View is a pure data analytics services company engaged in consulting services, data engineering, business analytics and digital solutions.
“We believe that Latent View offers distinct product offerings, relevant experience and capabilities to manage customers, which helps increase revenue and operational efficiency for the business. The company’s customer base includes several renowned companies that are engaged in various industries across the globe, and they have maintained long-term relationships with them by providing quality and personalized services, ”said a note from Religare.