New records are being made continuously in the rain of IPOs released in the Indian primary market. But it is difficult to say which IPO will be taken by the investors and who will face their cold response. Investors gave tremendous response to Zomato but did not show any special interest towards Paytm, the country’s biggest IPO till date. Now the way Latent View Analytics IPO has got record breaking subscription, hardly anyone could have imagined it. That too when investors had expressed their cold stance towards the IPO of Paytm, the giant digital payment company that came before it.
In terms of subscription, Paras Defense left behind IPO
The IPO of Latent View Analytics had received subscriptions 338 times till the close of the market on Friday. Earlier in September this year, Paras Defense’s IPO was subscribed 304 times. The interest of investors towards the IPO of Late View Analytics can be gauged from the fact that its shares were selling at a 150 percent premium in the gray market. The price band of this IPO was fixed at Rs 190 to 197 but it was selling at Rs 290 in the gray market. With the overwhelming response, Latent View Analytics has become the most subscribed IPO ever in the country.
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Tremendous response from all categories of investors
The IPO of Latent View Analytics has shown tremendous support across all categories of investors. The portion of IPOs reserved for institutional investors was subscribed 150 times, while the portion reserved for NIIs was subscribed 882 times. The craze of this IPO was also visible among retail investors. The portion reserved for retail investors got subscribed 124 times. Latent View has earned a good amount in the last two years. The company has achieved an annual growth of three percent in revenue between FY 2019 and 2021, but its net profit has grown at the rate of 24 percent. According to the company’s website, it is active in the data and analytics business. The company claims that many companies included in the Fortune 500 list take its service.
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