Latent View shares debut in market with 160% premium to offer price

Shares of Latent View Analytics more than doubled in their market debut on Tuesday, signalling strong investor demand for the profit-making Indian startup days after the listing debacle of digital payments firm Paytm.

Latent View, whose initial public offering (IPO) was oversubscribed more than 300 times, gained as much as 178.2% to 548 rupees after debuting at 512.20 rupees in pre-open trade, a 160% premium to the offer price of 197 rupees.

At the session high, the data analytics firm was valued at 108.40 billion rupees ($1.45 billion).

“The company’s strength is that it operates in a niche segment but is relevant to businesses across sectors,” said Narendra Solanki, head of equity research (fundamental) at Anand Rathi Investment Services.