Latent View IPO subscribed 23.22 times on Day 2 of offer

The initial public offer of Latent View Analytics Limited was subscribed 23.22 times on day two of subscription on Thursday.

The Rs 600-crore IPO received bids for 40,69,77,264 shares against 1,75,25,703 shares on offer, according to NSE data.

Retail Individual Investors (RIIs) category received 69.56 times subscription, non-institutional investors, 33.29 times, and Qualified Institutional Buyers (QIBs) 3.51 times.

The three-day initial public offer aggregating up to Rs 600 crore has a fresh issue of up to Rs 474 crore and an offer for sale of up to Rs 126 crore.

The price range for Latent View's offer is Rs 190-197 per share.

Latent View Analytics raised Rs 267 crore from anchor investors.

Proceeds from the fresh issue will be used for funding inorganic growth initiatives, working capital requirements of the subsidiary LatentView Analytics Corporation, and investment in subsidiaries to augment their capital base for future growth and general corporate purposes.

The company provides services ranging from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering, and digital solutions.

It engages and provides services to blue-chip companies in technology, BFSI, CPG & retail, industrials, and other industries, and has worked with over 30 Fortune 500 companies in the last three fiscals.

The company serves clients across countries in the United States, Europe, and Asia through its subsidiaries in the United States, Netherlands, Germany, United Kingdom, and Singapore, and its sales offices in San Jose, London, and Singapore. Axis Capital, ICICI Securities, and Haitong Securities India are the managers of the offer.