- Nazara was the first pure play gaming company in India to head for the public markets, and had also garnered a lot of market interest for the same.
- The company received bids for 51.2 crore equity shares against the issue size of 29.2 lakh equity shares.
- The basis of allotment for the IPO will be announced on March 24, 2021 while its shares will list by March 30, 2021.
The company received bids for 51.20 crore equity shares against the issue size of 29.20 lakh equity shares.
The basis of allotment for the IPO will be announced on March 24, 2021 while its shares will list by March 30, 2021.
Nazara was the first pure play gaming company in India to head for the public markets, and had also garnered a lot of market interest for the same. Nazara holds the licenced mobile gaming rights of popular cartoon characters like Chhota Bheem, Motu Patlu and Shikari Shambhu.
It also helps that the company is backed by ace stock market guru Rakesh Jhunjhunwaala. The stock market expert holds 11.38% shares in the company.
Analysts too have been bullish about the technology company’s market debut and the potential in the Indian gaming industry. “The gaming industry is set to witness over 30% CAGR (compound annual growth rate) over 2020-2023 (estimated) on the back of high mobile penetration, increasing internet penetration and increasing number of gamers. Nazara has a widespread presence both in terms of geography and product portfolio which offers strong growth visibility,” said a report by Aditya Birla Capital.
The 22-year old company founded by Nitish Mittersain also has its strong financials working in favour of it.
In the last two years, the company has also invested $50 million into startups to expand its presence across gamified e-learning, esports, freemium games and more.
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