Latent View Analytics IPO: The IPO of Latent View Analytics, a company providing digital services, is going to open next week. The company has fixed the price band for this IPO of 600 crores. This IPO will open on November 10 and investors will be able to bid in the price band of Rs 190-197 per share. This IPO will be open for three days and investors will be able to invest in it till November 12. This IPO will open for anchor investors on November 9.
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Highlights of the Latent View Analytics IPO
- The Latent View Analytics IPO will be open for subscription for three days from November 10-12.
- Under this IPO of Rs 600 crore, new shares worth Rs 474 crore will be issued, while the remaining shares of Rs 126 crore will be sold by the promoters and existing shareholders of the company under the offer for sale (OFS). Under the OFS, promoter Adugudi Viswanathan Venkataraman will sell shares worth Rs 60.14 crore, shareholders Ramesh Hariharan Rs 35 crore and Gopinath Kotiswaran Rs 23.52 crore.
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- The money raised through the issue of new shares under this issue will be used for inorganic growth of the company, to meet the working capital requirements of the company’s subsidiaries. In addition, it will be used to invest in a subsidiary of LatentView Analytics so that they can use it for their future growth. This capital will also be used for general corporate purposes.
- 75 per cent of the issue has been reserved for Qualified Institutional Buyers (QIBs), 15 per cent for Non-Institutional Investors (NIIs) and 10 per cent for retail investors.
- Axis Capital, ICICI Securities and Haitong Securities India are the book running lead managers to the issue.
- Link Intime India has been appointed as the Registrar for the issue.
Details about the company
- Latent View Analytics provides services ranging from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering and digital solutions.
- The technology provides services to BFSI (Banking, Financial Services and Insurance), CPG (Consumer Packaged Goods) and blue chip companies in retail, industrials and other industries.
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- The company has worked with more than 30 Fortune 500 companies in the last three financial years.
- The company provides services to clients through its subsidiaries in the US, Europe (Netherlands, Germany, UK) and Asia (Singapore). Its sales offices are located in San Jose, London and Singapore.
- Talking about the financial position of the company, its net profit (Profit After Tax) has increased continuously in the last three years. It had a net profit of Rs 59.67 crore in FY 2019, while it had a profit of Rs 72.84 crore in FY 2020 and Rs 91.46 crore in FY 2021.
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