The £60 million IPO offering by Chennai-based Latent View Analytics, a data and analytics consulting company, was oversubscribed 339 times, making it the most oversubscribed IPO ever in India. The previous best was 304 times subscription for Paras Defence’s IPO, which was listed on October 1.
The institutional part of Latent View’s IPO was subscribed 151 times, while the portion reserved for high net worth investors (HNIs) was subscribed 882 times and the retail part 124 times, BSE data showed. Employee part was subscribed four times, it showed.
In the anchor round, the Chennai-based company had raised £26.7 million. The shares were offered in the Rs 190-197-per-share range. At the post-anchor IPO size of £33.2 million, Latent View’s 339 times subscription means that the total demand for its shares was worth about £11.3 billion.
In terms of subscription figures, the numbers for Latent View and Parag Defence are followed by Salasar Technologies with 273 times subscription, Apollo Micro Systems with 249 times subscription and Astron Paper with 242 times subscription, data from merchant bankers showed.