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Latent View Analytics zooms 148% on listing day, becomes third biggest gainer among IPOs since 2007

The top two gainers are also from the current year. Microcrystalline cellulose manufacturer Sigachi Industries and Paras Defence & Space Technologies had gained 270.40 percent and 185 percent on their listing day - November 15 and October 1, respectively.

November 23, 2021 / 05:46 PM IST
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Data analytics services provider Latent View Analytics saw huge buying interest from investors on listing day - November 22, thereby becoming the third biggest gainer amongst IPOs that listed at least since 2007.

The stock rallied 148.02 percent to close at Rs 488.60 on the BSE and gained 148.10 percent to Rs 488.75 on the National Stock Exchange (NSE).

It touched an intraday high of Rs 548.75 (up 178.6 percent), after opening with 169 percent gains at Rs 530 on the BSE. It traded with volume of 20.73 lakh equity shares on the BSE, and 2.88 crore equity shares on the NSE.

Latent View Analytics launched its IPO during November 10-12 and mopped up Rs 600 crore at a price of Rs 197 per share.

The year 2021 is a record year for the primary market on almost all fronts including total fund raising, number of IPOs, subscription figures, and the biggest IPO in terms of issue size (Paytm's Rs 18,300 crore). Now with the Latent's debut, all the top three gainers including Sigachi Industries, and Paras Defence on a listing day were seen in the current year itself.

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Microcrystalline cellulose manufacturer Sigachi Industries and Paras Defence & Space Technologies topped the list of gainers among IPOs, reporting 270.40 percent and 185 percent gains on their listing day - November 15 and October 1, respectively.

Before the beginning of 2021, Salasar Techno Engineering had seen the maximum gains on a listing day, rising 139.95 percent in July 2017, followed by Astron Paper & Board Mill with 139.40 percent in December 2017, and Burger King India with 130.67 percent rally in December 2020.

Also readGo Fashion IPO share allotment this week | Check out the latest grey market premium, listing date

IRCTC was also a part of top 10 gainers on debut day, rising 127.69 percent in October 2019, followed by Happiest Minds Technologies with 123.49 percent rally in September 2020 and Avenue Supermarts with 114.30 percent upside in March 2017.

So far, 53 companies launched and successfully closed their IPOs, though some saw tepid response from investors including Paytm, SJS Enterprises, Fino Payments Bank, Chemplast Sanmar, Nuvoco Vistas Corporation, Macrotech Developers, Suryoday Small Finance Bank, and Kalyan Jewellers. However, not a single issue failed.

Also readPaytm IPO: Why the flop listing may not be such a bad thing

The year saw a record fund raising of Rs 1,14,633 crore and the same record could break or equalise in FY22 if the LIC IPO gets launched.

"Many companies have already filed their IPO papers and some big startup names are considering listing. Of course, LIC is also the big one that everyone is waiting for, but other exciting companies that we can expect to list soon are NSE (Rs 10,000 crore), PharmEasy (Rs 6,500 crore) and Delhivery (Rs 7,500 crore) among those that have filed," said Sonam Srivastava of Wright Research.

Also read - Primary market activity to continue till the mega IPO of LIC next year: Abhay Agarwal of Piper Serica PMS

"So, I would expect the next year to also be robust for IPOs and have equal, if not higher, fund raised via IPOs next year compared to this year," Srivastava added.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Sunil Shankar Matkar
first published: Nov 23, 2021 05:43 pm

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