Predictive analytics and enterprise management service company Latent View Analytics will most likely announce the allotment of its initial public offering today. According to NSE, the IPO worth ₹600 crores received bids of over 5 billion against offered shares of 10 million.
Bidders can view their allotment status by voting on the BSE website or the official website of the IPO registrar. The bidding process started on 10th November and lasted for three consecutive days.
According to the company, 75% of the issued shares have been reserved for qualified institutional buyers, and the rest are for non-institutional investors and retail investors. The shares had a price band of between ₹190-197, said officials of Latent View Analytics.
Stock dealer Pawan Dharnidharka said, “It’s quoting around Rs 300 in the unofficial grey market. The recent bumper listing of Nykaa shows the investor frenzy in IPOs, which can offer good money to investors on listing.”
The Indian artificial intelligence firm Latent View Analytics was founded by Venkat Viswanathan in 2006 and had its global delivery center in Chennai. Deloitte recognized Latent View Analytics as one of the fastest-growing technology companies in India in 2009 and 2010.
The company uses various technologies like high-end analytics and machine learning to develop solutions for businesses operating in different industries like finance, consumer goods, retail, and many more.
In 2021, Latent View Analytics generated revenue of over ₹300 crores and a profit of ₹91 crores. The company also got listed as a Representative Vendor in the “Market Guide for Data and Analytics Service Providers” published by Gartner in 2019.