Latent View Analytics on Wednesday said it has fixed a price band of Rs 190-197 a share for its Rs 600-crore initial share-sale that opens for public subscription on November 10.
The three-day initial public offering (IPO) will conclude on November 12. The bidding for anchor investors will open on November 9, the company announced in a virtual press conference.
The IPO comprises fresh issue of equity shares worth Rs 474 crore and an offer of sale of equity shares to the tune of Rs 126 crore by a promoter and existing shareholders.
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.
At present, Venkatraman owns 69.63 per cent stake in the company, Koteeswaran holds 7.74 per cent stake and Hariharan has 9.67 per cent holding in the firm.
Proceeds from the fresh issue will be used for funding inorganic growth initiatives, working capital requirements of the subsidiary LatentView Analytics Corporation, and investment in subsidiaries to augment their capital base for future growth and general corporate purposes.
The company said that up to 75 per cent of the issue has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
Axis Capital, ICICI Securities and Haitong Securities India are the book running lead managers to the issue.
The company provides services ranging from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering and digital solutions.
It engages and provides services to blue chip companies in technology, BFSI, CPG and retail, industrials and other industries, and have worked with over 30 Fortune 500 companies in the last three fiscals.
The company serves clients across countries in the United States, Europe, and Asia through its subsidiaries in the United States, the Netherlands, Germany, the United Kingdom and Singapore, and its sales offices in San Jose, London and Singapore.
Latent View Analytics IPO Date & Price Band
| IPO Open: | 10 November 2021 |
| IPO Close: | 12 November 2021 |
| IPO Size: | Approx ₹600 Crores |
| Fresh Issue: | Approx ₹474 Crores |
| Offer for Sale: | Approx ₹126 Crores |
| Face Value: | ₹1 Per Equity Share |
| Price Band: | ₹190 to ₹197 Per Share |
| Listing on: | BSE & NSE |
| Retail Quota: | 10% |
| QIB Quota: | 75% |
| NII Quota: | 15% |
| Discount: | N/A |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
Latent View Analytics IPO Market Lot
| Minimum Lot Size: | Minimum 76 Shares for 1 lot |
| Minimum Amount: | ₹14,972 for 1 lot |
| Maximum Lot Size: | Maximum 988 Shares for 13 lot |
| Maximum Amount: | ₹194,636 for 13 lot |
Latent View Analytics IPO Date, Time Table, Allotment & Listing
| Price Band Announcement: | 02 November 2021 |
| Anchor Investors Allotment: | 08 November 2021 |
| IPO Open Date: | 09 October 2021 |
| IPO Close Date: | 11 November 2021 |
| Basis of Allotment: | 16 November 2021 |
| Refunds: | 17 November 2021 |
| Credit to Demat Account: | 18 November 2021 |
| IPO Listing Date: | 22 November 2021 |
