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Shares of software firm Latent View Analytics surged 2.5 times over their IPO price during its first day of trading on Tuesday. The stock ended at Rs 489, up Rs 292 over its issue price of Rs 197.
The stock hit a high of Rs 549 and a low of Rs 462. Market players said at higher levels wealthy investors rushed to book profits to recover their investment cost.
Latent View's initial public offering (IPO) was subscribed 339 times, making it the most-subscribed IPO ever. Its IPO had seen bids exceeding Rs 1 trillion—nearly six times more than the country's largest IPO
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