Latent View Analytics IPO allotment has been announced yesterday and all eyes are now set on share listing date, which is most likely on 23rd November 2021. The public issue worth ₹600 crore got subscribed 326.49 times that boosted the morale of grey market as well. As per the market observers, shares of Latent View Analytics are available at a premium of ₹350, which is around 75 per cent higher from its price band of ₹190 to ₹197 per equity share.
Latent View Analytics IPO GMP
According to market observers, Latent View Analytics IPO grey market premium (GMP) today is ₹350, which is ₹10 lower from its yesterday’s GMP of ₹360. Market observers said that such dip in grey market price of Latent View Analytics IPO is not a worry for those who got Latent View Analytics shares through allotment process because it still reflects strong listing at around 75 per cent premium on the listing date. They went on to add that after the closure of subscription, it GMP of public issue goes down but in the case of Latent View Analytics IPO, it went on to go further northward. They said this could happen because of the strong response given by the investors and expected strong listing of the public issue.
What this GMP mean
Market observers said that GMP is normally an unofficial estimate by the grey market in regard to the listing gain from a public issue. As Latent View Analytics IPO GMP today is ₹350, it means grey market is expecting that Latent View Analytics IPO listing would be around ₹547 ( ₹197 + ₹350), which is around 75 per cent higher from its upper price band of ₹197 per equity share.
Highlighting the fundamentals of Latent View Analytics company; Astha Jain, Research Analyst at Hem Securities said, “Company is bringing the issue at price band of ₹190-197 per share at P/E multiple of 38 on post issue FY21 EPS (Earning Per Share). Company has recognized leadership position in data and analytics with a wide range of capabilities & has deep and entrenched relationships with blue chip clients across industries and geographies .We like scalable and attractive financial profile of company with strong leadership team guiding capability development and go-to-market strategy.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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