Following a blockbuster market debut on Tuesday, shares of Latent View Analytics fell over four percent on Friday after rising 20 percent during opening trade.

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At 9:25 am, Latent View was trading 4.23 percent lower, or down 29.70 points, at Rs 672.65 while the equity benchmark Sensex plummeted over 800 points in early trade on heavy across-the-board selling amid a negative trend in global markets and unabated foreign fund outflows.

After Sigachi Industries and Paras Defence, Latent View was named the third best debutant of the year this week. The Latent View stock was locked in the 20 percent upper circuit on Thursday on the stock exchanges, having crossed the Rs 700-mark for the first time ever.

Also Read: Latent View Analytics makes strong debut, shares list at 169% premium over issue price

Latent View Analytics' initial public offering (IPO) garnered an overwhelming response from all investors, as it was subscribed a whopping 326.49 times earlier this month. The Rs 600 crore IPO had a price range of Rs 190-197 per share.

Non-institutional investors (NII) had put in bids 850.66 times the portion set aside for them while qualified institutional buyers (QIBs) bought shares 145.48 times the reserved portion. Retail investors also looked aggresive, subscribing for shares 119.44 times the portion set aside for them and employees' portion was subscribed 3.87 times.

Also Read: Paytm shares extend losses after listing day fall, plunge 10%

Latent View provides services ranging from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering, and digital solutions.

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First Published:Nov 26, 2021 10:17 AM IST