Data analytics company LatentView Analytics’ IPO will open on November 9 and close on November 12. The size of the IPO is valued at ₹600 crores, of which ₹474 crores is a fresh issue and ₹126 crores is up for sale. Per equity, the share band has been set between ₹190-₹197.
Founded in 2006, LatentView will become the first pure-play analytics company to be listed in the Indian IPO. The company decided to be listed as it believes that the future of data analytics is offering huge growth opportunities, and they don’t want to miss out on any. CEO Rajan Sethuraman stated, “The total capital we are raising, we believe, is fairly small in comparison to the market potential. The industry reports and the prospectus is listing out that the space is expected to grow at 18-20 per cent CAGR. Compared to that, the capital raise that we were doing is very small. It is almost insignificant in the larger market size.”
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Like any other company, LatentView Analytics did see some hiccups as the pandemic hit, but it soon became an accelerator for growth. CFO Rajan Venkatesan said, “As greater digital acceleration pushed a high portion of our client business online, this worked very well for us. Also, a lot of our clients actively and passively got comfortable with a lot of the complex business problem solving historically that was done from on-site location. We were able to achieve a significant business shift to our off-shore centres of excellence in Chennai and Bangalore. Thereby achieving a significant margin expansion in the FY 2020-21.”
Over 80 per cent of the company’s clients are from the US, and it plans to increase growth in Europe. The company plans inorganic growth and has started evaluating young start-ups for mergers and acquisitions.