Latent View Analytics’ Rs 600-cr IPO to open on Nov 9

By: |
November 01, 2021 9:03 PM

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

Latent View AnalyticsAxis Capital, ICICI Securities and Haitong Securities India are the book running lead managers to the issue

The Rs 600-crore initial share-sale of LatentView Analytics will open for public subscription on November 9. The three-day initial public offering (IPO) will conclude on November 11, according to the red herring prospectus (RHP).

The IPO comprises fresh issue of equity shares worth Rs 474 crore and an offer of sale of equity shares to the tune of Rs 126 crore by a promoter and existing shareholders. As a part of the offer for sale, promoter Adugudi Viswanathan Venkatraman will offload shares worth Rs 60.14 crore, shareholder Ramesh Hariharan will sell Rs 35 crore shares and Gopinath Koteeswaran will offload Rs 23.52 crore shares, among others.

Currently, Venkatraman owns 69.63 per cent stake in the company, Koteeswaran holds 7.74 per cent stake and Hariharan has 9.67 per cent holding in the firm. Proceeds from the fresh issue will be used for funding the 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. The company provides services to blue chip companies in technology, BFSI, CPG (Consumer-Packaged Goods) & retail, industrials and other industries. Axis Capital, ICICI Securities and Haitong Securities India are the book running lead managers to the issue.

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