Nazara Technologies IPO opened on 17 March 2021. The IPO was subscribed 8.65 times, and this was only within the first three hours of opening of the subscription window.
The year 2021, seems to be the year of IPO’s for our beloved Indian startups. Famous Indian startups including Flipkart, Ease My Trip, And Zomato has announced to go the IPO route to raise funds from the general public. And in between these is the online gaming startup’s, Nazara Technologies Limited IPO which also launched on 17 March, 2021.
About Nazara Tech
The company was founded in 1999. Nazara Technologies are one of the leading E-Sports gaming platforms of India. The company also have a growing business in Africa and South America.
Nazara Tech Subsidiaries
Some of the major subsidiaries of the Nazra Tech ltd are :
Paper Boat Apps, Nodwin Gaming Private Limited , Sports keeda, Sports Unity Private Limited, Next Wave Multimedia Private Limited and many more.
Investors Interest
The startup has been backed by the Big Bull of India Mr. Rakesh Jhunjhunwala himself.
Jhunjhunwala, owns 10.82 percent stake in startup Nazara and is going to hold on to the shares.
Nazara has been trying to come with their IPO since 2017. As their strong balance sheet, the company posted a profit of 1 Crore in 2018 and 6.7 crores in 2019.
Even though they suffered a loss of Rs 26 Crore in 2020, the investors still have high hopes from them. This is because of the exponential growth online gaming industry in India.
Nazara Technologies IPO Details
The IPO opened on 17 March 2021. The shares will be offered at price of 1100 to 1101 per share by the leading E-Sports gaming platform.
The big bull investor Rakesh Jhunjhunwala owns 32,94,310 shares or 11.51% stake Nazara Technologies.
The face value of the Share is Rs 4 and the Issue size is up to 583 crore Rs, the number of shares offered is 52.94 lakh shares. And the minimum bid size for shares is 13 shares.
And the Nazara Technologies will be listed on both NSE and BSE. Also, Nazara has told that shares worth 2 crores will be kept aside for their employees at a discount price of Rs 110 per share.
Growth of Online Gaming in India
Since 2020, Indian Gaming Industry is growing at an exponential rate, because of people working from and schools and colleges being shut down. Esports, especially mobile gaming in India has shown real potential for future growth opportunities. As per reports Indian gaming industry could be worth $ 1.1 Billion by end of 2021.
Seeing these facts and figures investing in the Nazara Technologies IPO could lead to big profits.