Software firm Latent View Analytics jumps 2.5 times in stellar listing

The stock of software firm Latent View Analytics surged 2.5 times over the IPO price during its first day of trading on Tuesday. It ended at Rs 489, up Rs 292 over the issue price of Rs 197. The stock hit a high of Rs 549 and a low of Rs 462. Market players said at higher levels wealthy investors rus­hed to book profits to recover their investment cost.

Latent View’s IPO was subscribed 339 times, making it the most-subscribed IPO ever. The HNI portion of the IPO was subscribed 882 times. The breakeven cost for HNIs worked out to Rs 520 per share. Market players said despite the stellar listing some HNIs exit their position at losses. At last close, the firm was valued at Rs 9,665 crore versus Rs 3,900 crore valuation sought in the IPO.