IPO Note - Latent View Analytics Ltd By Swastika Investmart
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* Incorporated in 2006, Latent View provides analytics services such as data and analytics consulting, business analytics & insights, advanced predictive analytics, data engineering, and digital solutions.
* The company provides services to blue-chip companies in Technology, BFSI, CPG & Retail, Industrials, and other industry domains.
Strengths:
1) One of the leading pure-play data analytics companies in India
2) Blue-chip clients across industries and geographies
3) Focus on innovation and R&D
Risk:
1) More dependency on foreign clients
2) Top client at 20% of rev & Top 5 at 59%.
Objects of the Issue:
1) Funding inorganic growth initiatives
2) Funding working capital requirements and investment in subsidiaries
3) General corporate purposes.
* IPO comprises an OFS amounting to 7126 Cr and a fresh issue amounting to %474 cr. The issue will open on Nov 10, 2021, and close on Nov 12, 2021. The issue is priced at %190 to %197 per equity share. The minimum order quantity is 76 shares.
* The company is showing growth in profit in the last 3 years. Profits have grown from Rs 72.8 cr to Rs 91.4 cr over the period of FY20 to FY21. While revenue of the company declined a little from Rs 329.67 cr in FY 2020 to Rs 326.7 in FY 2021. Overall company's financial performance is stable while the margins are improving year on year.
* Data and analytics are being used by businesses across sectors to guide company strategy and optimize expenditure decisions in the face of rising financial uncertainty. The firm is among the leading pure-play data analytics companies and caters to Fortune 500 companies with long-term relationships. At the upper price band of Rs. 197 and EPS of Rs 5.1 PE work out to be 38x which suggests that the IPO is reasonably priced for the distinct and new edge business. Thus we assign a "SUBSCRIBE" rating to the IPO.
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