Latent View Analytics IPO subscribed 3.29 times on debut, retail portion booked 17.26 times

Latent View Analytics IPO | Offer size has been reduced from 3.15 crore equity shares to 1.75 crore equity shares after the company mopped up Rs 267 crore from 34 anchor investors on November 9. Avaneesh Parasar

The Rs 600-crore initial public offering of Latent View Analytics has seen a 3.29 times subscription, receiving bids for 5.76 crore equity shares against IPO size of 1.75 crore equity shares, on November 10, the first day of bidding.

The offer size has been reduced from 3.15 crore equity shares to 1.75 crore equity shares after the company mopped up Rs 267 crore from 34 anchor investors including HSBC, Hornbill Orchid India Fund, Abu Dhabi Investment Authority, Wellington India Opportunities Fund, Axis Mutual Fund, ICICI Prudential, Kotak Mutual Fund and Edelweiss Trusteeship on November 9.

Retail investors have put in bids for 17.26 times of the shares against their reserved portion and that of employees’ portion was subscribed 44 percent.

Non-institutional investors and qualified institutional buyers have put in bids of 76 percent and 1 percent respectively for the offer.

The offer comprises a fresh issue of Rs 474 crore and an offer for sale of Rs 126 crore by selling shareholders. The fresh issue proceeds are going to be used for inorganic growth initiatives, working capital requirements of subsidiaries, and investment in subsidiaries.