The initial public offer (IPO) of Latent View Analytics has subscribed 6.39 times on the primary day of issue, as it acquired bids for 11,19,06,580 shares as towards 1,75,25,703 shares on supply, according to stock exchange data.
The problem will shut on November 12, 2021. Its value band is fixed at ₹ 190-197. An investor can bid for a minimum of 76 equity shares and in multiples thereof.
Forward of the IPO, Latent View Analytics had on Tuesday, finalized allocation of 1,35,53,898 equity shares to anchor investors at ₹ 197 per share, aggregating ₹ 267.01 crores.
The IPO consists of a recent issue worth as much as ₹ 474 crores by the company and an offer on the market price as much as ₹ 126 crores by selling shareholders.
The corporate plans to make use of the proceeds from the IPO for funding inorganic growth price ₹ 147.90 crores. It additionally aims to fund the working capital requirements of its materials arm, Latent View Analytics Corp amounting to ₹ 82.40 crores,s and has also laid out plans to enhance its capital base for future growth amounting to ₹ 130 crores.
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