New Delhi: Latent View Analytics has given a stellar performance on its exchange debut, rising 160 per cent above its offer price on Tuesday.
The business and technology service firm debuted at Rs 512.20 on the NSE, against its offer price of Rs 197. It closed at Rs 487.95, while reaching an intraday high of Rs 548.
The company's initial public offering (IPO) was reportedly oversubscribed more than 300 times.
"The investors who got the allotment can put a stop loss of Rs 450 and hold the stock with a long-term view, while the new investors should look for a dip to buy the stock," said Parth Nyati, Founder of Tradingo.
"It is the first of its kind to get listed in the Indian stock market with no apple to apple peers. So it has a first-mover advantage, which is backed by strong management and fundamentals with increasing margins," Nyati added.
However, there are risks on its revenue concentration and revenue growth as it has been muted for the last three years, Nyati said.
According to Santosh Meena, Head of Research, Swastika Investmart: "This is another stellar listing after a disappointment from Paytm which indicates that the market is ready and has an appetite to reward quality IPOs. Latent View is a data analytics company and this industry is likely to grow by 18-20 per cent for the next three years."
It is important to note that Latent View's exchange listing comes at a time when One97 Communications-owned Paytm's shares slumped around 35 per cent during the first two sessions of its exchange debut.
However, Paytm's shares recovered around 10 per cent of its value on Tuesday.