Rakesh Jhunjhunwala-backed Nazara Technologies’ share sale via initial public offering (IPO) will begin on March 17, in the price band of Rs 1,100- Rs 1,101 per share. The initial public offer of the Mumbai-based sports and gaming technology firm will close on March 19. Nazara Technologies IPO offers up to 49.6 lakh equity shares for sale, at a face value of ₹ 4 each. The bids can be placed for a minimum of 13 equity shares and in multiples thereafter, which translates to a minimum investment of Rs 14,313 per investor. A retail-individual investor can apply for up to 13 lots, specifically 169 shares for a total consideration of ₹186,069. (Also Read: Billionaire-Backed Cricket Game Startup Kicks off India’s Tech IPO Rush )
The shares are proposed to be listed on stock exchanges BSE and NSE. The listing date of Nazara Technologies IPO is not announced yet. Nazara Technologies is one of the leading eSports companies in the country. It was founded in 2000 by gamer Nitish Mittersain. The company provides a range of diversified gaming products across the eSports, interactive gaming, and gamified learning ecosystems in the country. It comprises live eSports streaming and on-demand eSports media content.
The book running lead managers to the Nazara public offer are ICICI Securities, IIFL Securities, Jefferies India Private Limited, and Nomura. Nazara Technologies’ backers include Plutus Wealth Management as well as billionaire Rakesh Jhunjhunwala. The company operates in 52 countries including those in North America, Middle East, Africa, and Southeast Asia.
Nazara Technology’s platform hosts various content categories, while also commanding a share of the mobile cricket gaming segment with titles such as the World Cricket Championship.