Latent View Analytics IPO - Subscription Day 1

5paisa Research Team 5paisa Research Team 10th November 2021 - 06:50 pm

The Rs.600 crore IPO of Latent View Analytics, consisting of a fresh issue of Rs.474 crore and an offer for sale (OFS) of Rs.126 crore, saw robust response on Day-1 of the IPO.

As per the combined bid details put out by the BSE at the close of Day-1, Latent View Analytics IPO was subscribed 6.39X overall, with reasonable demand coming from the retail segment followed by the HNI segment. The issue closes on 12th November.

As of close of 10th November, out of the 175.26 lakh shares on offer in the IPO, Latent View Analytics saw bids for 1,119.07 lakh shares. This implies an overall subscription of 6.39X.

The granular break-up of subscriptions was dominated by the retail investors followed by HNIs. QIB bids and NII bids are expected to gather momentum on the last day, as is the general trend in the IPO market.

Latent View Analytics IPO Subscription Day-1

Category	Subscription Status
Qualified Institutional Buyers (QIB)	0.15 Times
Non Institutional Investors (NII)	2.42 Times
Retail Individuals	31.62 Times
Employees	1.24 Times
Overall	6.39 times

QIB Portion

The QIB portion of the IPO was subscribed just 0.15 times at the end of Day-1. On 09th November, Latent View Analytics did an anchor placement of 1,35,53,898 shares at the upper end of the price band of Rs.197 to 34 anchor investors raising Rs.267.01 crore.

The list of QIB investors included a number of marquee global names like Abu Dhabi Investment Authority (ADIA), Ashoka India Fund, Hornbill Orchid and Wellington Fund. Domestic anchor investors included Birla Mutual Fund, Axis MF, ICICI Pru MF, Kotak MF, Mirae MF, SBI Life, Bajaj Allianz, UTI MF; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 93.68 lakh shares of which it has got bids for 13.64 lakh shares, implying a subscription ratio of 0.15X for QIBs at the close of Day-1. QIB bids typically get bunched on the last day but the heavy demand for the anchor placement forebodes well for the Latent View IPO subscription overall.

HNI / NII Portion

The HNI portion got subscribed 2.42X (getting applications for 113.58 lakh shares against the quota of 46.84 lakh shares). This is a strong response on Day-1 because this segment normally sees the maximum response bunched on the last day. Bulk of the funded applications and corporate applications, come in on the last day of the IPO.

Retail Individuals

The retail portion was subscribed an impressive 31.62X at the end of Day-1, showing strong retail appetite. However, it must be noted that retail allocation is just 10% in this IPO. For retail investors; out of the 31.23 lakh shares on offer, valid bids were received for 987.50 lakh shares, which included bids for 787.80 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.190-Rs.197) and will close for subscription on 12th November 2021.

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