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Data analytics company Latent View is all set to raise Rs 600 crore through IPO (initial public offering) that opens for subscription today. Here are all the details that you need to know about the company.
Open and close date: The offer will open for subscription on November 10 and the bidding will close on November 12.
Price band: The price band for the analytics service provider has been fixed at Rs 190 – 197 per share having a face value of Rs 1 per share.
Lot size: Investors can bid for a minimum of 76 equity shares and in multiples, thereafter, translating to a minimum bidding amount of Rs 14,972 at the higher end of the price band. A retail investor can at max apply for 13 lots or 988 shares for Rs 1,94,636.
Issue size: The Rs 600-crore public offer comprises of fresh issue of Rs 474 crore and an OFS (offer for sale) by existing shareholder worth Rs 126 crore.
As a part of the offer for sale, promoter Adugudi Viswanathan Venkatraman will offload shares worth Rs 60.14 crore, shareholder Ramesh Hariharan will sell Rs 35 crore shares and Gopinath Koteeswaran will offload Rs 23.52 crore shares among others.
Objective of issue: The proceeds from the fresh issue of shares will be used to fund inorganic growth initiatives, working capital requirements, and for general corporate purposes.
What’s in it for retail investors: Not more than 75% of the total offer has been reserved for qualified institutional buyers, up to 10% for retail investors, and the rest 15% for non-institutional buyers.
About the company: Latent View Analytics is a data analytics firm, delivering solutions that help companies drive digital transformation and use data to gain a competitive advantage. The company has a presence across countries in the United States, Europe, and Asia through their subsidiaries in the United States, Netherlands, Germany, United Kingdom, and Singapore, and their sales offices in San Jose, London, and Singapore. Latent View has worked with over 30 Fortune 500 companies in the last three fiscals and some of the key clients include Adobe, Uber Technology, and 7-Eleven.
On the financial front, net profit of the company has jumped to Rs 91.46 crore for the year ended FY21 compared to Rs 59.66 crore in FY19. Whereas it’s total revenues rose to Rs 326.70 crore versus Rs 295.90 crore during the same period. For the quarter ended June 2021 the company posted a profit of Rs 22.31 crore on a revenue of Rs 91.74 crore.
Book running lead managers and registrar to the IPO: The book running lead managers to the issue are Axis Capital, Haitong Securities India and ICICI Securities. The registrar to the issue is Link Intime.
Issue timeline: The issue is likely to finalize the basis of allotment by November 16, and the initialization of refunds will take place by November 17. While the credit of equity shares to depository accounts of the allottee will be done on November 18. The data analytics company is expected to make its stock market debut on November 22, 2021.