Nazara Technologies IPO: Investors can bid for the Nazara Technologies IPO, starting March 17, in the price band of Rs 1,100 to Rs 1,101 per equity share, at a face value Rs 4.
The price band for the issue has been fixed at Rs 1,100-1,101.
The issue is entirely an offer for sale by existing shareholders who include IIFL Special Opportunities Fund, Mitter Infotech, Good Game Investment Trust, Seedfund 2, Porush Jain and Azimuth Investments. The company will not receive any money from the IPO proceeds and the entire amount will go only to selling shareholders.
Rakesh Jhunjhunwala held 3,294,310 shares, or 11.51 per cent stake, in the company as of September 30, according to the draft red herring prospectus. He is not selling any share through the IPO.
Nazara offers many free-to-play games such as Chhota Bheem, Motu Patlu and Oggy and The Cockroaches. In e-sports, it offers games such as World Cricket Championship 3, World Table Tennis Champions and Carrom Clash. The company generates nearly 40 per cent of its revenues from India, nearly 40-41 per cent from North America and balance from Africa, West Asia and South Africa.
Nazara will come out with its Rs 583 crore IPO on March 17. Ace investor Rakesh Jhunjhunwala, who held 3,294,310 shares, or 11.51 per cent stake, in the company as of September 30, is not selling any share through the IPO.
Rakesh Jhunjhunwala-backed Nazara Technologies to launch IPO on March 17
Nazara Technologies IPO: The online gaming company has fixed the issue price at Rs 1,100-1,101 apiece, which would fetch around Rs 583 crore
BusinessToday.In | March 12, 2021 | Updated 13:51 IST
Rakesh Jhunjhunwala owned 11.51 per cent shares in Nazara Technologies at the end of September quarter of 2020
Big bull Rakesh Jhunjhunwala-backed Nazara Technologies to launch three-day initial public offering (IPO) on March 17. The online gaming company has fixed the issue price at Rs 1,100-1,101 apiece. At the upper end of price band, the issue will fetch nearly Rs 583 crore to the company. The offer will close on March 19.
Updated Mar 12, 2021 | 20:04 IST
Nazara Technologies Joint MD Nitesh Mittersain and Manish Agarwal, CEO, told ET NOW that India improved quality of internet connectivity driven by mobile internet and fibre are good for the gaming industry. Nazara Tech IPO: 50-70 million paying customers core of company, says CEO | Photo Credit: Times Now
The Initial Public Offering (IPO) of Nazara Technologies, which counts billionaire investor Rakesh Jhunjhunwala among stakeholders, will open for subscription on Wednesday, March 17. The maiden public offer is in a price band of Rs 1,100-1,010 per share which will close on March 19.
The IPO is an offer-for-sale (OFS) of up to 5.29 million shares by promoters and shareholders current shareholders including Mitter Infotech, IIFL Special Opportunities Fund, Seedfund 2, Good Game Investment Trust Porush Jain and Azimuth Investments. The issue is expected to fetch Rs 583 crore at the upper price band.