NEW DELHI: Nazara Technologies, a mobile gaming company backed by ace investor Rakesh Jhunjhunwala, kick-started its IPO on Wednesday.
The IPO is an offer for share (OFS) of 5.29 million shares being sold in the price band of Rs 1,100-1,101, representing a 16.7 per cent stake in the company. Ahead of its IPO, the company allotted shares worth Rs 261 crore to 43 anchor investors at Rs 1,101 per piece.
At the upper limit of the price band, the issue would garner Rs 582.91 crore from investors.
Nazara Technologies is the only company in India to have rights over IP and assets across grassroots, regional, national and international e-sports. The company has market-first positions in India across sports simulation and e-sports. Its e-sports content business grew 60 per cent in FY20, and has expanded nine times in the last three years.
Updated Mar 17, 2021 | 16:40 IST
Nazara IPO was subscribed 13.79 in the retail investor category, 0.36 times in the QIB category, 2.43 times in the NII category on day 1 of the issue Nazara Technologies IPO subscribed 3.35 times on Day 1; retail category oversubscribed 13.79X | Photo Credit: IANS
The Initial Public Offering (IPO) of Nazara Technologies backed by billionaire Rakesh Jhunjhunwala was subscribed 3.35 times on day one of the issue on Wednesday, March 17, according to data from NSE and BSE. The issue received overall bids for 90,69,580 shares against 29,20,997 on offer as of 4.00 pm Wednesday.
The issue, first by any Indian mobile gaming company, was subscribed 13.79 in the retail investor category, 0.36 times in Qualified Institutional Buyer (QIB) category, 2.43 times in the Non-Institutional Investor (NII) category. The issue got bids for 79,76,748 shares against 5,27,421 shares on offer for retail category investors.