New Delhi. Amidst the difficult situation of Corona crisis, many companies one after the other have raised strong funds by presenting IPOs. In this episode, data analytics services firm Latent View Analytics has now submitted documents to the capital markets regulator SEBI to raise Rs 600 crore through IPO (Latent View Analytics IPO). In this IPO, new equity shares worth Rs 474 crore will be issued. Apart from this, there will be an offer for sale (OFS) of Rs 126 crore from the promoter and existing shareholders.
Promoter will sell shares worth more than 60 crores
Under the offer for sale, promoter Viswanathan Venkataraman will sell shares worth Rs 60.14 crore. Apart from this, shareholders Ramesh Hariharan will sell shares worth Rs 35 crore and Gopinath Koteeswaran Rs 23.52 crore. Venkataraman holds 69.63 per cent, Koteeswaran has 7.74 per cent and Hariharan holds 9.67 per cent in the data analytics company. The funds received from the issue of new shares will be used to increase the company growth, meet the working capital requirement.
The amount will also be invested in subsidiaries
Latent View Analytics will also use the money raised through the IPO to make new investments in subsidiaries. The company is engaged in the business of data and analytics consulting, data engineering and digital solutions. It has clients in America, Europe and some countries in Asia. The company has subsidiaries in the US, Netherlands, Germany, UK and Singapore.