Home Business Nazara Technologies initial public offering (IPO) Opens Today

Nazara Technologies initial public offering (IPO) Opens Today


Nazara Technologies IPO Opens Today

Nazara Technologies IPO: The company was founded by gamer Nitish Mittersain in the year 2000

Nazara Technologies’ initial public offering (IPO) opens for subscription today i.e. March 17. The Rakesh Jhunjhunwala-backed gaming company will issue shares in the price band of Rs 1,100 to Rs 1,101 per share. The primary market offer will close on March 19. The shares are likely to be listed on both, BSE and NSE on March 30, 2021.

The initial public offering will be an offer for sale (OFS) by existing shareholders and there will not be any fresh issue of shares. The promoters and existing investors are offering 5.29 million shares, or 16.7 per cent stake and will be able to rake in Rs 582.91 crore at the higher end of the price band.

Bids can be made for a minimum one lot of 13 equity shares and in multiples, extending up to 13 lots; translating into a minimum investment of Rs 14,313 per person.

A total of 75 per cent of the issue will be reserved for qualified institutional buyers, 15 per cent for non-institutional investors and 10 per cent for retail investors. A portion of the issue will also be reserved for employees, at a discount of Rs 110 per share.

Nazara Technologies was founded by gamer Nitish Mittersain in the year 2000 and is one of the leading eSports companies in the country today. It operates in 52 countries spread across North America, Middle East, Africa, and Southeast Asia.

ICICI Securities, IIFL Securities, Jefferies India and Nomura are the book running lead managers to the public offer, while Link Intime India is the registrar to the issue.

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