6bf2962b 7a35 4dd5 9645 5b1514f4664b - Daily Mail India

Nazara Technologies shares make a strong debut, listed at 81% premium



News24

LAST UPDATED: March 30, 2021, 12:48 p.m.

New Delhi (Anish Yande): Nazara Technologies shares have made a strong debut on the exchanges today. The shares were listed at an 80.74 percent premium on March 30. The initial public offering of Nazara Technologies was subscribed over 175 times. The subscriptions made the issue the second-most subscribed in 2021, yet.

Nazara Technologies shares listed at premium:

On the BSE, shares of Nazara Technologies were listed at Rs 1,971 on Monday. Comparatively, the issue price was at Rs 1,101 per share. The gaming company offered shares at a price range of Rs 1,100-1,101 per share. The shares reached an intraday high of Rs 2,026, at an increase of 84 percent on Tuesday. 

On the NSE, the shares traded at Rs 1,917.75, at a volume of 18.09 lakh equity shares, an increase of 73.8 percent.

The segment of the issue which was reserved for qualified institutional buyers (QIBs) was subscribed 103.77 times. The reserved portion for retail individual investors was subscribed 75.29 times. The portion for non-institutional investors received subscriptions of 389.89 times. 

75 percent of the issue was reserved for qualified institutional buyers and 10 percent of the issue was kept aside for retail investors. Before the IPO, Nazara Technologies raised Rs 261 crores from anchor investors. 

Jhunjhunwala continues to hold a stake in Nazara Technologies:

Rakesh Jhunjhunwala holds a stake of 32,94,310 shares or an 11.51 percent stake in the gaming company amounting to Rs 656 crore at the time of listing. Jhunhunwala had commenced his investment in the firm with an investment of Rs 180 crore in 2008. The ace investor chose not to participate in the IPO offer for sale. 

READ ALSO :  Video: Sapna Choudhary vows audience with dance on Haryanvi song 'Mera Pehla Pyar' ... Watch here

Nazara Technologies owns gaming IPs such as CarromClash and World Cricket Championship. For gamified early learning, the company owns Kiddopia. Sportskeeda and Nodwin in eSports segments. 

The gaming media company acquires up to 41 percent of revenue from India. North America contributed revenue of 12 percent in FY21. The majority of revenue is drawn from subscriptions.

Image Credit: Google



Source link