IPO screener: Latent View Analytics subscribed 23 times on Day 2; Issue closes today

KS Badri Narayanan Chennai | Updated on November 12, 2021

Fino Payments Bank listing today

Today is the last day for subscription of Latent View Analytics initial public offering, which was subscribed 23.22 times so far. The price band of the offer has been fixed at ₹190-197 a share. The company aims to raise Rs ₹600 crore through the IPO comprising a fresh issue of ₹474 crore and an offer-for-sale of Rs ₹126 crore by selling shareholders.

The IPO saw a robust response from all category of investors in the first two days itself. While retail investors portion received subscription for 69.56 times, quota for NIIs (non-institutional investors or HNIs) saw 33.3 times. QIBs portion too received bids for 3.5 times and employees' by 2.6 times.

Market lot is 76 shares.

Latent View Analytics on Tuesday raised ₹267.01 crore from 34 anchor investors. The company, following consultation with merchant bankers, has finalised allocation of 1,35,53,898 equity shares to anchor investors, at ₹197 a share, the upper end of the price band.

Among the anchor investors included Aditya Birla Sun Life Trustee, Axis Mutual Fund, ICICI Prudential, Kotak Mutual Fund, Nippon Life, Mirae Asset, SBI Life Insurance, Bajaj Alliance Life Insurance, DSP MF, Franklin, Motilal Oswal MF, UTI MF and Edelweiss Trusteeship.

Fino Payments IPO price is ₹577

Shares of Fino Payments Bank will be listed on the bourses, after a successful fund rasing through IPO, which was subscribed by two times. While the portion reserved for retail investors was oversubscribed by 5.92 times, employees' quota saw 0.93 times. However, the portion set aside for non-institutional investors was lacklustre with a subscription of 0.21 times. Qualified institutional buyers portion receied bids for 1.65 times.

The company has fixed the IPO price at ₹577, the upper end of the price band ₹560-577

The Offer comprises of a fresh issuance of Equity Shares aggregating up to ₹300 croreand an offer for sale of up to 1,56,02,999 Equity Shares by Selling Shareholders.

The fintech company on October 28 had garnered ₹538.78 crore from 29 anchor investors, ahead of its initial public offering (IPO). Among the marquee investors that picked up stakes includes Pinebridge Global Funds, HSBC, Invesco Trustee, ITPL Invesco, Matthews Asia Small Companies Fund, Fidelity Funds, Societe Generale, and Segantii India Mauritius.

Published on November 12, 2021

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