Huge fall in stock market, Latent View Analytics will be listed today
It got listed on BSE at Rs 530, while the issue price was only Rs 197. It was listed on the National Stock Exchange at Rs 512.20.
Stock market crash
The BSE Sensex opened with a fall of 482 points at 57,983.95 on Tuesday morning. Around 9.23 am, 747 Sensex points fell to 57,718.34.
Similarly, the Nifty of the National Stock Exchange (NSE) opened with a decline of 135 points at 17,281 and went down to 17,216.10 around 9.24 am. Realty, metal, pharma and PSU banks have gained 1 to 2 per cent, while IT stocks are looking under pressure.
The initial public offering of Latent View Analytics was open for investment on November 10 and closed on November 12. The company has raised around Rs 600 crore through IPO.
The price band for the IPO of Latent View Analytics was kept at Rs 190-197. Under this IPO, the company issued fresh shares worth Rs 474 crore, while there is an offer for sale of Rs 126 crore shares by the promoters and existing shareholders.
The amount raised from the newly issued shares will be used by the company for its expansion, acquisition, working capital requirements etc. Axis Capital, ICICI Securities and Haitong Securities India are
The listing of Latent View Analytics shares is due today. It is a global data analytics company. The issue price of the company is Rs 197. Market experts believe that the listing of the shares of the company can be up to 150% above the issue price. After the poor listing of Paytm, the strong listing of Latent View Analytics can strengthen the market sentiments.
This IPO was oversubscribed 326 times and its gray market premium is currently running at 180%.
“This IPO reminded me of the IT firm Happiest Minds, which not only got listed with a premium of 113%, but it has also climbed 600% in the 11 months since its listing,” he said.
However, the continuous decline in the stock market remains a matter of concern. The benchmark index is trading nearly 6.5% below its record high in October. On Monday also the bears were seen dominating the market. The 30-share Sensex of BSE closed at 58,465.89, down 1,170.12 points on Monday. On the other hand, Nifty fell 348.25 to close at 17,416.55. During the day’s trading, the Sensex had broken more than 1500 points.
Latent view Analytics had launched an IPO of 600 crores. In this, a fresh issue of Rs 474 crore and shares worth Rs 126 crore were sold in the offer for sale (OFS). The company’s issue price band was Rs 190-197. The issue of the company opened on November 10 and closed on November 12.
