Backed by Rakesh Jhunjhunwala, one of India’s prolific investors, Nazara Technologies Limited has recently made its plans of listing its shares in the stock exchanges public. If you’re looking for Nazara Technologies IPO details, here’s everything that you need to know.
About the company
Established in the year 1999 in Mumbai, Nazara Technologies Limited is a company that’s actively involved in game development. Some of the company’s well-known games include Chhota Bheem, Motu and Patlu, and the World Cricket Championship. With this upcoming IPO, Nazara Technologies Limited is hoping to become the first ever game developing company to have listed its shares in the stock exchanges.
The company’s operations include the subscription business model, freemium business model, and esports business model. All three of the company’s business models enjoy a high-rate of monthly visitors ranging in the millions. Nazara Technologies Limited managed to generate a healthy ad revenue from its freemium business model to the tune of around Rs. 39.83 million in the year ended 2017.
Considering the rapid increase in mobile gaming in India, Nazara Technologies Limited is well-poised to take advantage of the growing Indian gaming industry.
Nazara Technologies IPO details
Let’s take a look at some of the important details of this upcoming IPO including the Nazara Technologies IPO date and the Nazara Technologies IPO share price band.
Nazara Technologies IPO date
The opening date of the upcoming IPO from Nazara Technologies is 17th March, 2021 and the closing date is March 19th March, 2021.
Nazara Technologies IPO issue size
According to the DRHP filed by the company in 2018, the total issue size of the new IPO from Nazara Technologies is likely to be around 5,543,052 equity shares. The entire issue is meant to be an Offer for Sale (OFS), with no fresh issue of shares being made by the company.
The breakup of the promoters and the number of equity shares being sold by them through the OFS route of this IPO are as follows:
● Westbridge Ventures II Investment Holdings - 5,182,753 equity shares
● Mitter Infotech LLP - 360,299 equity shares
Nazara Technologies IPO share price
The Nazara Technologies IPO share price is 1100-1101
Nazara Technologies IPO listing
The Nazara Technologies IPO is proposed to be listed both on the Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE). The company has also received an in-principle approval from the concerned stock exchanges in this regard.
Nazara Technologies IPO objectives
Since the entire Nazara Technologies IPO issue consists only of promoters offloading their stake via the OFS route, the company would not receive any proceeds from this issue. Therefore, the company cannot make use of any of the funds from this sale for furthering any of its objectives.
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