Latent View Analytics IPO was subscribed 6.39 occasions on first day
The preliminary public provide (IPO) of Latent View Analytics was subscribed 6.39 occasions on the primary day of problem, because it acquired bids for 11,19,06,580 shares as towards 1,75,25,703 shares on provide, in accordance with inventory change information.
The difficulty will shut on November 12, 2021. It is value band is mounted at Rs 190-197. An investor can bid for at least 76 fairness shares and in multiples thereof.
Forward of the IPO, Latent View Analytics had on Tuesday, finalised allocation of 1,35,53,898 fairness shares to anchor traders at Rs 197 per share, aggregating Rs 267.01 crore.
The IPO consists of a contemporary problem value upto Rs 474 crore by the corporate and a suggestion on the market value upto Rs 126 crore by promoting shareholders.
The corporate plans to make use of the proceeds from the IPO for funding inorganic development value Rs 147.90 crore. It additionally goals to fund working capital necessities of its materials arm, Latent View Analytics Corp amounting to Rs 82.40 crore and has additionally laid out plans to enhance its capital base for future development amounting to Rs 130 crore.
