Latent View Analytics fixes IPO price band at Rs 190-197, to mobilise Rs 600 crore

Data analytics services Latent View Analytics on November 3 has fixed price band at Rs 190-197 per equity share for its maiden public offer that will open on November 10. The IPO opening-closing schedule has been revised from November 9-11.

The company aims to raise Rs 600 crore through its public issue that comprises a fresh issue of Rs 474 crore and an offer for sale of Rs 126 crore by selling shareholders including promoter Adugudi Viswanathan Venkatraman. Gopinath Koteeswaran, Ramesh Hariharan, Subramanian Ramachandran, Divya Balakrishnan, Rajkumar Kaliyaperumal, Priya Balakrishnan and Navin Loganathan among others will also offload their shares in offer for sale.

The Rs 6 crore worth of shares are reserved by the company for employees. The offer will close on November 12. The anchor book, if any, will open for a day on November 9.

Bids can be made for a minimum of 76 equity shares and in multiples of 76 shares thereafter. Retail investors can invest a minimum of Rs 14,972 per lot and the maximum investment by them would be Rs 1,94,636 crore in 13 lots.

Having an expertise in business analytics with respect to customer profiling, targeted marketing, supply chain management, finance and risk management, and HR functions, the company will use of fresh issue proceeds for inorganic growth initiatives (Rs 147.9 crore), working capital requirements of subsidiary LatentView Analytics Corporation (Rs 82.4 crore), and investment in subsidiaries to augment the capital base (Rs 130 crore).

Latent View Analytics earned maximum business from the US that accounted for 92.88 percent of revenue, and the UK contributed 1.85 percent of revenue in FY21.

The company reported a 25.6 percent growth in consolidated profit at Rs 91.46 crore for FY21, compared to previous year, but revenue in the same period declined 1.4 percent to Rs 305.88 crore.

Axis Capital, ICICI Securities, and Haitong Securities India are the book managers to the issue.

One97 Communications-owned Paytm and KFC operator Sapphire Foods will also open their public offerings next week, on November 8 and November 9. Paytm will be the largest public issue in the Indian IPO history, raising Rs 16,600 crore and Sapphire Foods will raise Rs 2,073 crore.