Shares of Latent View Analytics on Tuesday made an impressive debut on the stock exchanges as it opened at a premium of 169 per cent and later settled with gains of 148 per cent to the issue price.
The strong listing should come as a relief particularly after Paytm parent One97 Communications disappointed on the bourses. However, in Tuesday’s trade, the Paytm share closed with gains of 9.90 per cent, or Rs 134.65, at Rs 1,494.95, leading to a market cap of around Rs 96,914 crore.
The IPO of Latent View Analytics had come in a price band of Rs 190-197 per share and it had closed for subscription on November 12. Its offering was a roaring success with the firm witnessing a record subscription of 338 times and investors had put in bids worth Rs 1.13 lakh crore.
The Latent View Analytics share opened at Rs 530 on the BSE and hit an intra-day high of Rs 548.75 — a gain of 178 per cent to the issue price. The share later closed at Rs 488.60, a premium of 148 per cent. Similarly, on the NSE, it opened at Rs 512.20 and ended at Rs 487.95.
Meanwhile, shares of RIL were also back in the green after being battered on Monday for calling off a proposed deal with Saudi Aramco.
On the BSE, the RIL share ended with gains of around a per cent at Rs 2,386.15. Despite the Aramco news, most of the analysts have maintained their current rating and price target on the stock.