Latent View Analytics slips 17% in 2 days as anchor lock-in period ends

Shares of Latent View Analytics dipped 8 per cent to Rs 491 on the BSE in Tuesday’s intra-day trade in an otherwise firm market. In thepast two trading days, the stock of the information technology (IT) consulting & software company has slipped 17 per cent as the mandatory lock-in of anchor investors expired for the stock on Monday, December 20, 2021.

With the past two days’ decline, the market price of Latent View Analytics has corrected 35 per cent from its 52-week high level of Rs 755 touched on November 26, 2021. It had hit a 52-week low of Rs 462 on November 23, 2021.

Anchor investors are marquee institutional investors who are allotted shares in a company ahead of its initial public offer (IPO). The company had allocated a total of 13.55 million equity shares to 34 anchor investors at Rs 197 apiece, amounting to a transaction size of Rs 267 crore.

Abu Dhabi Investment Authority, Ashoka India Equity Investment Trust Plc, Axis Mutual Fund (MF), ICICI Prudential MF, Aditya Birla Sun Life MF, Edelweiss MF, SBI Life Insurance Company and Bajaj Allianz Life Insurance Company were among the anchor investors, according to a circular uploaded on BSE website on November 9, 2021.

Shares of data analytics firm saw robust market debut, with stock listing at Rs 530 per share, a 169 per cent premium against the issue price of Rs 197 per share. Post listing, the stock climbed by up to 283 per cent against its issue price.

Latent View is among the leading pure-play data analytics services companies in the country. The company functions in areas such as consulting services, data engineering, business analytics and digital solutions.

The company serves clients across countries in the United States, Europe, and Asia through its subsidiaries in the United States, Netherlands, Germany, United Kingdom, and Singapore, and its sales offices in San Jose, London, and Singapore.

At 10:27 am, Latent View was 5 per cent lower at Rs 506.25, as compared to a 1.4 per cent rise in the S&P BSE Sensex. The counter has seen huge activity with trading volumes jumping 1.5 times. A combined 2.2 million shares had changed hands on the counter on the NSE and BSE till the time of writing of this report.

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