Latent View IPO: The company has fixed a price band of Rs 190 – Rs 197 per share
The initial public offering (IPO) of data analytics company ‘Latent View’ will open for subscription tomorrow, November 10. The company has fixed a price band of Rs 190 – Rs197 per share for its Rs 600-crore initial share-sale.
The public issue opens tomorrow and closes on November 12 – remaining open for investors for a period of three days. The IPO comprises fresh issue of equity shares worth Rs 474 crore and an offer-for-sale of equity shares worth Rs 126 crore by the promoter and existing shareholders.
The lot size for the public issue is 76 shares. The company said that up to 75 percent of the issue has been reserved for qualified institutional buyers, 15 percent for non-institutional investors, and the remaining 10 percent for retail investors.
The company provides services to blue-chip companies in sectors such as technology, CPG & Retail, BFSI, industrials, and other industry domains. The company classifies its business into consulting services, data engineering, business analytics, and digital solutions.
Latent View will utilise the IPO proceeds to fund inorganic growth initiatives, working capital requirements, and for general corporate purposes.
”Acquisition of new larger accounts and with cross sell and up sell opportunities available to its acquired clients, supported with inorganic growth, will help the company to grow ahead. In FY21 Ebitda margins stood at 35.2 per cent higher than FY19 margins which stood at 25.2 per cent, which indicates the company’s strategy of focusing on margin accretive clients is playing well.
At the given upper price band of issue of Rs 197, Latent Analytics is offered at PE of 43.7x annualized Q1FY22E earning which we feel is attractive. We recommend subscribing to the issue,” said domestic brokerage firm Nirmal Bang in an IPO note.
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