Latent View Beats Paras Defence To Be Most Subscribed IPO So Far In 2021
Latent View Analytics Ltd. beat Paras Defence & Space Technologies Ltd. as India's most subscribed maiden offer so far this year.
The issue by the data analytics firm received 305.98 times more demand than the shares on offer on the final day. That's more than Paras Defence's 304.3 times bid.
Non-institutional investors led the bidding in the initial public offering, while portions reserved for retail and institutional counterparts also oversubscribed.
Final IPO subscription figures at 5 p.m.:
Institutional investors: 132.54 times.
Non-institutional investors: 806.94 times.
Retail investors: 115.80 times.
Employees: 3.70 times.
The Rs 600-crore IPO comprised a fresh issue and an offer-for-sale by promoter and other investors, according to its red herring prospectus. The company was selling shares at Rs 190-197 apiece, pegging the value at Rs 3,896.3 crore at the upper end of the price band.