Latent View Analytics Limited had tapped the capital markets with its fresh issue for Rs 474 crs and an offer for sale of Rs 126 crs in a price band of Rs 190-197 listed on the bourses. The discovered price on BSE was Rs 530 at which price 2,00,214 shares were traded. On NSE, the discovered price was 512.20 at which price 36,35,249 shares were traded. Approximately 38.35 lac shares were traded at the discovered price on the two exchanges combined.

The issue had received massive subscriptions and was oversubscribed 338.51 times. The issue had opened on Wednesday the 10th of November and closed on Friday the 12th of November. HNI portion was subscribed 881.96 times, the Retail portion was subscribed 123.83 times and the Employee portion was subscribed 4.03 times. There were 37,61,441 applications and on basis of lots, the retail portion was subscribed 94.91 times. The issue garnered a subscription of Rs 1.13 lac crs against issue size of Rs 600 crs. This has now become the most subscribed issue in the last 12-13 years and has overtaken the recent issue of Paras Defence.

Earlier the company allotted 1,35,53,898 equity shares at Rs 197 to 19 anchor investors comprising of 34 entities. The highest allocation was made to the Abu Dhabi Investment Authority of 10,15,968 shares or 7.5% of the anchor book. The company also allotted an almost equal number of shares ranging between 6.7% – 6.9% of the anchor book to nine anchor investors. The company allotted 82,23,346 shares or 60.7% of the anchor book to 12 domestic mutual funds comprising 25 anchors. The names include Aditya Birla Sun Life AMC, Ashoka India, Axis Mutual Fund, Kotak, Nippon, and Mirae amongst others. Looking at the anchor book, one can surmise that the same has been very evenly distributed with the top 10 anchors being allotted roughly 69% of the anchor book.

The high of the day on BSE was Rs 548.75, the low was Rs 462 and the close was Rs 488.60. The gain was Rs 291.60 or 148.02%. On NSE, the high of the day was Rs 548, the low was Rs 461 and the close was Rs 488.75 a gain of Rs 291.75 or 148.10%.

The traded volume on the two exchanges combined was 308.96 lac shares which was 1.01 times the IPO size of 304.56 lac shares and 1.83 times the non-anchor portion of 169.02 lac shares. Delivery volume was 124.55 lac shares which were 40.31% of the traded volume. It was 40.90% of the issue size and 73.69% of the non-anchor portion. The weighted average of the day’s trade was Rs 503.99 on BSE and Rs 500.50 on NSE.

In terms of institutional or bulk trade, none were reported on either BSE or NSE.

There was some selling pressure witnessed on day one on the share as the closing price was lower than the weighted average. The delivery volumes have been decent and indicate that people who have been allotted shares have sold and made profits. What is intriguing however is the fact that people who have bought, their identity remains unknown. With no names appearing one can only hope that weak hands have not bought.

The issue price of the company was at PE multiples marginally lower than 40 times its earnings for March 2021. With the closing price being where it is, the PE has moved up almost 100 times. One hopes the company declares results that would enthuse the market and keep the party going.