Shares of Latent View Analytics on Tuesday made a stellar market debut, listing with a premium of 169 per cent gainst the issue price of Rs 197.
The stock listed at Rs 530, reflecting a huge gain of 169 per cent from the issue price on BSE. It further jumped 178.55 per cent to Rs 548.75.
On NSE, it made its debut at Rs 512.20, a jump of 160 per cent.
The initial public offer of Latent View Analytics received an overwhelming response from all categories of investors as it was subscribed a whopping 326.49 times earlier this month.
The Rs 600-crore IPO had a price range of Rs 190-197 per share.
Analysts had expected the listing premium of more than 150 per cent over the issue price, while the grey market premium was around 180 percent. Reasonable valuations, healthy financials, strong growth prospects and good relationships with blue-chip companies supported the stock price.
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 has worked with over 30 Fortune 500 companies in the last three fiscals.
What analyst says:
All analysts had recommended subscribing to the public issue, given the healthy growth in the global data & analytics market going ahead.
The global data & analytics market is expected to grow at a CAGR of 18 percent from $174 billion in FY20 to $332.6 billion by FY24.
"Across industries, data and analytics are being leveraged by enterprises to guide business strategy and optimize spending decisions. Latent View is among the leading pure-play data analytics services companies in India. At the upper price band of Rs 197, the stock trades at 43.68x its FY22E EPS of Rs 4.51/-(based on annualize latest earning and fully diluted equity post issue). Hence, we recommend to subscribe the issue from a long-term perspective," Asit C Mehta had said.
Considering the bright future and attractive valuations, Choice Broking had also assigned a 'subscribe' rating for the issue.
