Data analytics services provider has filed preliminary papers with capital markets regulator.
Data analytics services provider Latent View Analytics has filed preliminary papers with capital markets regulator Sebi to raise Rs 600 crore through an initial public offering (IPO).
The initial share sale comprises a fresh issue of equity shares worth Rs 474 crore, and an offer-for-sale of equity shares to the tune of Rs 126 crore by a promoter and existing shareholders, according to the draft red herring prospectus (DRHP).
As a part of the offer-for-sale, promoter Adugudi Viswanathan Venkatraman will offload shares worth Rs 60.14 crore, shareholder Ramesh Hariharan will sell Rs 35 crore shares and Gopinath Koteeswaran will offload Rs 23.52 crore shares among others.
At present Venkatraman owns a 69.63 per cent stake in the company, Koteeswaran holds a 7.74 per cent stake and Hariharan has a 9.67 per cent holding in the firm.
Proceeds from the fresh issue will be used for funding inorganic growth initiatives, working capital requirements of the subsidiary LatentView Analytics Corporation, and investment in subsidiaries to augment their capital base for future growth and general corporate purposes.
The company provides services ranging from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering, and digital solutions.
It provides services to blue-chip companies in technology, BFSI, CPG & retail, industrials, and other industries, and has worked with over 30 Fortune 500 companies in the last three fiscals.
The company serves clients in the United States, Europe, and Asia through its subsidiaries in the United States, the Netherlands, Germany, the United Kingdom, and Singapore, and its sales offices are in San Jose, London, and Singapore.
No comments:
Post a Comment