Sunday , April 18 2021

Nazara Technologies, backed by Rakesh Jhunjhunwala, makes big debut on stock market – Details

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Nazara Technologies is the first gaming company to be listed in the stock market in India.

Rakesh Jhunjhunwala-backed Nazara Technologies listed itself on the stock market on Monday in a grand style. The popular mobile gaming and e-sports company listed at a premium listing nearly 81 per cent (Rs 1,990) on its issue price of Rs 1,101 on the National Stock Exchange (NSE).

Similarly, it listed at Rs 1,971, or a 79.2 per cent premium on the Bombay Stock Exchange. 

Nazara owns IPs, including WCC and CarromClash in mobile games, Kiddopia in gamified early learning, NODWIN and Sportskeeda in esports and esports media, and Halaplay and Qunami in skill-based, fantasy and trivia games.

Nazara Technologies had raised a whopping Rs 260 crore from anchor investor ahead of IPO launch.  The company’s IPO committee had decided to allocate 23,73,395 shares to 43 anchor investors at Rs 1,101 per piece. 

ALSO READ: Nazara Technologies IPO opens for subscription: Check price band, GMP and listing date

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.

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