Latent View Analytics
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 10 Nov 2021 – 12 Nov 2021
- Listing date
- 23 Nov 2021
- Face value
- ₹1 per share
- Issue price
- ₹197 per share
- Lot size
- 76 shares
- Total issue size
- ₹600 Cr
- Market cap at offer price
- ₹3,897 Cr
- Promoter holding
- 79.30% → 68.10% pre-issue → post-issue
- ISIN
- INE0I7C01011
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Axis Capital Ltd.
- Registered office
- 5th Floor, Neville Tower, Unit 6, 7 and 8, Ramanujan IT City, Rajiv Gandhi Salai, Taramani, Tamil Nadu
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 1,35,53,898 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 76 shares per lot, in multiples, at ₹197
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 76 | ₹14,972 |
| Retail (max) | 13 | 988 | ₹1,94,636 |
| S-HNI (min) | 14 | 1,064 | ₹2,09,608 |
| S-HNI (max) | 66 | 5,016 | ₹9,88,152 |
| B-HNI (min) | 67 | 5,092 | ₹10,03,124 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| Market cap | — | ₹3,897 Cr |
About Latent View Analytics
Latent View Analytics Limited was incorporated on January 3, 2006, as a private limited company in Chennai, Tamil Nadu, and converted to a public limited company on July 16, 2021. The company provides services ranging from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering and digital solutions. It engages with blue chip companies and has worked with over 30 Fortune 500 companies in the last three Fiscals. The company serves clients across the United States, Europe, and Asia through subsidiaries in the United States, Netherlands, Germany, United Kingdom and Singapore, and sales offices in San Jose, London and Singapore. Revenue from operations from the United States amounted to ₹832.55 million, ₹669.59 million, ₹2,841.12 million, ₹2,865.63 million and ₹2,617.51 million in the three months ended June 30, 2021 and June 30, 2020 and in Fiscals 2021, 2020 and 2019, respectively.
Company Analysis
from RHPLatent View Analytics Limited provides data and analytics consulting, business analytics, predictive analytics, data engineering, and digital solutions to Fortune 500 companies across Technology, BFSI, CPG & Retail, and Industrials sectors globally.
Latent View Analytics Limited was incorporated on January 3, 2006, as a private limited company in Chennai, Tamil Nadu, and converted to a public limited company on July 16, 2021. The company provides services ranging from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering and digital solutions. It engages with blue chip companies and has worked with over 30 Fortune 500 companies in the last three Fiscals. The company serves clients across the United States, Europe, and Asia through subsidiaries in the United States, Netherlands, Germany, United Kingdom and Singapore, and sales offices in San Jose, London and Singapore. Revenue from operations from the United States amounted to ₹832.55 million, ₹669.59 million, ₹2,841.12 million, ₹2,865.63 million and ₹2,617.51 million in the three months ended June 30, 2021 and June 30, 2020 and in Fiscals 2021, 2020 and 2019, respectively.
Objects of the Issue
- Funding inorganic growth initiatives ₹1,479.00 million p.15
- Funding working capital requirements of LatentView Analytics Corporation, our Material Subsidiary ₹824.00 million p.15
- Investment in our Subsidiaries to augment their capital base for future growth ₹1,300.00 million p.15
- General corporate purposes ₹806.42 million p.15
- Funding inorganic growth initiatives ₹1,479.00 million p.85
- Funding working capital requirements of LatentView Analytics Corporation, our Material Subsidiary ₹824.00 million p.86
- Investment in our Subsidiaries to augment their capital base for future growth ₹1,300.00 million p.88
- General corporate purposes ₹806.42 million p.85
- Capitalisation of Subsidiaries ₹3,212.42 million p.90
- General Corporate Purposes ₹806.42 million p.91
- Not explicitly stated in this excerpt
Issue Structure
- Total Issue
- ₹6,000.00 million
- Fresh Issue
- ₹4,740.00 million (24,093,423 equity shares)
- Offer for Sale
- ₹1,260.00 million (6,395,939 equity shares)
- Price Band
- ₹190 to ₹197 per equity share
- Lot Size
- 76 Equity Shares
- Face Value
- ₹1 per equity share
Business Model
The company generates revenue from long-term partnerships with clients, primarily through arrangements involving data and analytics consulting, business analytics services, advanced predictive analytics, data engineering and digital solutions. It derives more than 90% of revenues from clients located in the United States. Revenue from operations from the top five clients represented 59.31%, 57.55%, 54.00%, 53.69% and 54.66% of total revenue from operations in the three months ended June 30, 2021 and June 30, 2020 and in Fiscals 2021, 2020 and 2019, respectively.
Business Segments
SWOT Analysis
- • Established presence in top analytics markets with multiple subsidiaries(p.88)
- • High revenue concentration from USA with consistent growth(p.88)
- • Strong market demand for data and analytics services(p.89)
- • Demonstrated track record of performance in core USA market(p.89)
- • Leading pure-play data analytics firm with extensive Fortune 500 client base(p.132)
- • Broad end-to-end analytics capabilities across entire value chain(p.133)
- • Long-standing client relationships providing high revenue visibility(p.136)
- • Attractive financial profile with high margins and strong cash generation(p.138)
- • Recognized industry leadership with multiple awards(p.133)
- • Experienced leadership team with deep industry expertise(p.139)
- • Diversified client portfolio across major geographies and industries(p.145)
- • Multi-decade international presence with established subsidiaries across key markets(p.149)
- • Deep client relationships with Fortune 500 companies across multiple verticals(p.155)
- • Proven ability to deliver measurable business impact through case studies(p.146)
- • Specialized expertise in data analytics across multiple industries(p.146)
- • Strong female workforce diversity representation(p.152)
- • Proven track record of scaling and adapting operations(p.152)
- • Historical non-compliance with CSR spending requirements(p.42)
- • Missing historical corporate and secretarial records(p.42)
- • Pending RBI filings for foreign shareholder equity allotments(p.42)
- • Four subsidiaries not audited by statutory auditors(p.49)
- • High dependence on subsidiary working capital from parent company(p.87)
- • High revenue concentration in top clients creating client dependency risk(p.132)
- • Heavy geographic concentration in United States market(p.132)
- • Significant exposure to Technology vertical which dominated revenues(p.132)
- • Limited scale relative to large multi-service IT providers(p.129)
- • Significant concentration of revenue in US market(p.149)
- • Heavy dependence on a small number of key clients(p.150)
- • Limited manufacturing or proprietary product portfolio(p.163)
- • Non-compliance with corporate social responsibility requirements in the past(p.154)
- • Reliance on non-exclusive, non-transferable trademark license from subsidiary(p.153)
- • Growing consolidation trend in analytics services market enabling acquisitions(p.85)
- • Strategic expansion through inorganic growth initiatives(p.85)
- • Rising demand for AI/ML and predictive analytics solutions(p.86)
- • Expansion of geographic footprint leveraging local client preferences(p.88)
- • Growing prescribed analytics spend across market segments(p.89)
- • Global data analytics market expected to grow at 18% CAGR to $333B by 2024(p.140)
- • Expansion into high-growth BFSI and CPG & Retail verticals(p.141)
- • Supply chain analytics emerging as critical need with 28% CAGR growth(p.141)
- • Geographic expansion in Canada with significant growth potential(p.141)
- • APAC region expected to be fastest growing analytics market(p.90)
- • Strategic acquisition opportunities in data engineering and AI/ML capabilities(p.142)
- • COVID-19 accelerating digital transformation and analytics adoption(p.140)
- • Growing adoption of data analytics and digital transformation across industries(p.146)
- • Rapid evolution of CPG and Retail requiring real-time consumer insights(p.146)
- • Expansion of consulting practice with new revenue stream(p.161)
- • Growing demand for data analytics in BFSI sector for risk management(p.146)
- • Localization of solutions for better penetration of foreign markets(p.149)
- • Cyber security and data breaches affecting IT systems(p.42)
- • Evolving data privacy regulations globally impacting compliance costs(p.43)
- • GDPR and other international data protection regulations increasing operational costs(p.44)
- • Dependence on third-party service providers for critical operations(p.45)
- • Loss of tax benefits and incentives affecting profitability(p.45)
- • Economic instability from natural disasters, epidemics and geopolitical events(p.50)
- • Exposure to OFAC sanctions through client transactions(p.49)
- • Intense competition from large multi-service IT providers with scale advantages(p.127)
- • High attrition rates in analytics talent pool creating delivery risks(p.128)
- • Talent shortage limiting ability to scale operations and win new business(p.116)
- • Rapidly evolving technology landscape requiring continuous capability upgrades(p.140)
- • Consolidation trend where large IT SPs acquiring pure-play analytics firms(p.129)
- • Client dependence on US market creates FX and geopolitical risks(p.132)
- • Intense competition from large IT service providers and specialized analytics firms(p.151)
- • Fragmented competitive landscape with many players offering varying data quality(p.152)
- • Rapidly evolving regulatory environment with increasing compliance burden(p.152)
- • Exposure to data privacy and cybersecurity risks with potential liability(p.152)
- • Dependency on third-party intellectual property and potential claims(p.153)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Adugudi Viswanathan Venkatraman | Promoter | 69.63% | — |
| Pramadwathi Jandhyala | Promoter | 9.67% | — |
| Adugudi Viswanathan Venkatraman | Promoter | 69.63% | 61.15% |
| Pramadwathi Jandhyala | Promoter | 9.67% | 8.49% |
| Adugudi Viswanathan Venkatraman | Chairman | — | — |
| Pramadwathi Jandhyala | Co-founder/Promoter | — | — |
| Adugudi Viswanathan Venkatraman | Promoter | 79.30% | — |
| Pramadwathi Jandhyala | Promoter | 79.30% (combined with Adugudi Viswanathan Venkatraman) | — |
| A.V. Venkatraman | Promoter | 71% | — |
| Mrs. Pramadwathi Jandhyala | Promoter | 10% | — |
| Mr. Ramesh Hariharan | Promoter | 10% | — |
| Mr. Gopinath Koteeswaraan | Promoter | 8% | — |
| Not disclosed in detail in this excerpt | Promoter | — | — |
| Adugudi Viswanathan Venkatraman | Promoter Selling Shareholder | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.