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Nazara eyes India’s vast internet market Nazara is betting on India’s big and burgeoning internet ecosystem. In an interview with Business Insider, the company’s chief executive officer Manish Agarwal said that the IPO is a huge milestone in their goal of being one of the top 5 global gaming companies. For youngsters in India, 14-25 year olds, gaming is becoming the go-to entertainment and that will drive growth. “It’s different from people like us for whom movies were the source of entertainment – that’s a big shift, which makes gaming in India a very attractive market,” he said. ....
Nazara Technologies IPO opens today: Should you bid for Jhunjhunwala-backed firm s share sale? Nazara Technologies IPO: The firm plans to raises Rs 582 crore through offer for sale (OFS) of up to 5,294,392 equity shares BusinessToday.In | March 17, 2021 | Updated 11:11 IST Nazara Technologies IPO: Price band has been fixed at Rs 1,100-01. The bid lot size is of 13 shares and in multiple thereof Ace investor Rakesh Jhunjhunwala-backed Nazara Technologies launched its three-day initial public offer (IPO) on March 17. The firm is India-based gaming and sports media platform and known for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series. Nazara Technologies plans to raise Rs 582 crore from IPO through offer for sale (OFS) of up to 5,294,392 equity shares. Price band has been fixed at Rs 1,100-1,101 per share. The bid lot size is of 13 shares and in multiple thereof. Equity shares of Nazara Technologies will be listed on BSE and NSE. ....
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. ....
NEW DELHI: Gaming firm Nazara Technologies on Tuesday said it has mopped up a little over Rs 261 crore from anchor investors ahead of its initial public offer, which opens for subscription on Wednesday. The company s initial public offer (IPO) committee has decided to allocate 23,73,395 shares to 43 anchor investors at Rs 1,101 per piece. At this price, the firm has raised Rs 261.31 crore, Nazara Technologies informed BSE. Among the anchor investors are Government of Singapore, Abu Dhabi Investment Authority, Goldman Sachs India Ltd, Noumura Funds Ireland Public Limited Company, Steadview Capital Mauritius Ltd. In addition, SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Axis MF, Sundaram MF, Kotal MF and Aditya Birla Sunlife MF too participated in the anchor book bidding. Â ....
Rakesh Jhunjhunwala-backed Nazara Technologies is all set to hit the primary market with its Rs 583-crore IPO on Wednesday. The diversified and online gaming firm’s three day issue will run through March 17-19 and will be entirely an offer for sale (OFS). While 5.29 million equity shares will be offloaded via OFS by some of the shareholders, Rakesh Jhunjhunwala, who owns 3.29 million shares or 11.51 per cent stake in the company as of September 30, 2020, has decided to hold on to his stake. The issue has a price band of Rs 1,100-1,101 and will be available is lots of 13 shares and multiples thereof. ....