V-Marc India Limited Initial Public Offering of Equity Shares opening on Thursday, March 25, 2021
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Jhunjhunwala’s investment in Nazara Tech rises to ₹432 crore
March 14, 2021
Rakesh Jhunjhunwala, stock-market investor - PAUL NORONHA×
India’s Warren Buffett had invested about ₹180 crore in the Mumbai-based diversified gaming and sports media platform in 2018 Big bull Rakesh Jhunjhunwala’s investment in Nazara Technologies Ltd is pegged at about ₹432 crore as the gaming and sports media platform hits the market with a ₹583-crore Initial Public Offering on Wednesday.
This is based on the upper price band of ₹1,101 a share as Jhunjhunwala holds 32.94 lakh shares or 10.82 per cent in the company. While the entire IPO is an Offer For Sale (OFS) only issue, and there will not be any fresh offering by Nazara Technologies, the ace investor is not diluting any stake.
Jhunjhunwala-backed Nazara Tech to launch ₹583-crore IPO on Wednesday
March 12, 2021
Fixes issue price band at ₹1,100-1,101 a share
Rakesh Jhunjhunwala-backed Nazara Technologies Ltd, a gaming and sports media platform, has fixed a price brand of ₹1,100-1,101 per share for its Initial Public Offering (IPO), which will open for subscription on March 17.
The company intends to raise ₹582.91 crore at the upper end of the price band. The issue will close on March 19.
Only offer-for-sale
The entire issue is an offer-for-sale (OFS) of 53 lakh shares by IIFL Special Opportunities Fund, Mitter Infotech, Good Game Investment Trust, Seedfund 2 International and Azimuth Investments Ltd and other investors. There will not be any fresh issue offering by the company.
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