After record gains on the first day of Nykaa listing, investors' interest in the flourishing IPO market would have increased bountifully. So, here we provide a take on the latest Latent View Analytics IPO that has opened for public subscription today:
About Latent View:
The new age business primarily offering data and analytics consulting, business analytics, advanced predictive analytics, data engineering and digital solutions. The company's clientele include bluechip enterprises in the area of technology, banking, insurance and financial services, consumer packaged goods and retail as well as other industries.
The Rs. 600 crore IPO includes fresh equity issuance worth Rs. 474 crore together with an OFS of Rs. 126 crore. The company plans to use the proceeds of the IPO for financing inorganic growth initiatives, working capital requirements of the subsidiary as well as increase investment in subsidiaries to augment their capital base. The company has fixed a price band of Rs 190-197 per share for this IPO.
Analysts' give thumbs up to the issue of Latent View Analytics
The issue will serve as a good bet both for good listing gains as well as for long term prospects."Good track record of promoters with no litigations, new age business with a strong growth outlook and strong financial and profitability works well for this IPO," market veteran shares his view on the IPO. The negative though is the small company size with revenue of just Rs. 300 crore.
"We feel in future there will be a great demand for pure play analytics company like Latent View, which is engaged in providing analytics services, offering an in-depth understanding of solving complex customer problems and assists business entities in making an informed decision. Thus considering the bright future and attractive valuations, we assign a "SUBSCRIBE" rating for the issue," said Choice Broking in a report.
Various brokerages' take on Latent View Analytics IPO