Latent View Analytics IPO - Subscription Day 3

5paisa Research Team 5paisa Research Team 13th December 2022 - 10:44 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 and Day-2 of the IPO. As per the combined bid details put out by the BSE at the close of Day-3, Latent View Analytics IPO was subscribed 326.49X overall, with strong demand coming from the HNI, QIB and retail segment, in that order. The issue has closed on 12th November.

As of close of 12th November, out of the 175.26 lakh shares on offer in the IPO, Latent View Analytics saw bids for 57,218.83 lakh shares. This implies an overall subscription of 326.49X. The granular break-up of subscriptions was dominated by the HNIs followed by QIBs and retail investors. QIB bids and NII bids gathered tremendous momentum on the last day, as is the normal trend in the IPO market.

Latent View Analytics IPO Subscription Day-3

Category	Subscription Status
Qualified Institutional Buyers (QIB)	145.48 Times
Non Institutional Investors (NII)	850.66 Times
Retail Individuals	119.44 Times
Employees	3.87 Times
Overall	326.49 times

QIB Portion

The QIB portion of the IPO was subscribed 145.48 times at the end of Day-2. 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.

Check - Latent View Analytics IPO subscription Day-2

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 13,628.43 lakh shares, implying a subscription ratio of 145.48X for QIBs at the close of Day-3. QIB bids typically get bunched on the last day but the heavy demand for the anchor placement for the Latent View Analytics IPO had already indicated at a strong QIB appetite for the IPO.

HNI / NII Portion

The HNI portion got subscribed 850.66X (getting applications for 39,846.85 lakh shares against the quota of 46.84 lakh shares). This is a very strong response on Day-3 although this segment normally does 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 119.44X at the end of Day-2, 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 3,729.97 lakh shares, which included bids for 2,967.39 lakh shares at the cut-off price.

The IPO is priced in the band of (Rs.190-Rs.197) and has closed for subscription on 12th November 2021.

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