NEW DELHI: Nazara Technologies, a mobile gaming company backed by ace investor Rakesh Jhunjhunwala, kick-started its IPO on Wednesday.
The IPO is an offer for share (OFS) of 5.29 million shares being sold in the price band of Rs 1,100-1,101, representing a 16.7 per cent stake in the company. Ahead of its IPO, the company allotted shares worth Rs 261 crore to 43 anchor investors at Rs 1,101 per piece.
At the upper limit of the price band, the issue would garner Rs 582.91 crore from investors.
Nazara Technologies is the only company in India to have rights over IP and assets across grassroots, regional, national and international e-sports. The company has market-first positions in India across sports simulation and e-sports. Its e-sports content business grew 60 per cent in FY20, and has expanded nine times in the last three years.
NEW DELHI: Gaming firm Nazara Technologies on Tuesday said it has mopped up a little over Rs 261 crore from anchor investors ahead of its initial public offer, which opens for subscription on Wednesday.
The company s initial public offer (IPO) committee has decided to allocate 23,73,395 shares to 43 anchor investors at Rs 1,101 per piece. At this price, the firm has raised Rs 261.31 crore, Nazara Technologies informed BSE.
Among the anchor investors are Government of Singapore, Abu Dhabi Investment Authority, Goldman Sachs India Ltd, Noumura Funds Ireland Public Limited Company, Steadview Capital Mauritius Ltd.
In addition, SBI Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Axis MF, Sundaram MF, Kotal MF and Aditya Birla Sunlife MF too participated in the anchor book bidding. Â
Nazara Tech IPO to open on March 17: Check price band, listing date, other details
Nazara Technologies IPO: The price band for the issue has been fixed at Rs 1,100-01, while bid lot size is of 13 shares and in multiple thereof
BusinessToday.In | March 16, 2021 | Updated 13:35 IST
Nazara Tech IPO to close on March 19
Ace investor Rakesh Jhunjhunwala-backed Nazara Technologies, an India-based gaming and sports media platform, is all set to launch its three-day initial public offering (IPO) on March 17. The company, popularly known for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series, plans to raises Rs 582 crore from IPO through offer for sale (OFS) of up to 5,294,392 equity shares. The price band for the issue has been fixed at Rs 1,100-01. The bid lot size is of 13 shares and in multiple thereof. The equity shares of Nazara Technologies will be listed on the BSE and the NSE.
The three-day initial public offer (IPO) by Suryoday Small Finance Bank (SFB) is slated to open on Wednesday, March 17 along with the much-awaited issue by Rakesh Jhunjhunwala-backed Nazara Technologies. The IPO is a mix of an offer for sale (OFS) and a fresh issue in which the company is looking to sell 1.9 crore shares, priced in the range of Rs 303-305 per share to raise up to Rs 581 crore. Investors can bid for a minimum of 49 shares and in multiples thereof. The bank proposes to utilise the net proceeds from the fresh issue towards augmenting its Tier – 1 capital base and to meet future capital requirements.
The price band for the issue has been fixed at Rs 1,100-1,101.
The issue is entirely an offer for sale by existing shareholders who include IIFL Special Opportunities Fund, Mitter Infotech, Good Game Investment Trust, Seedfund 2, Porush Jain and Azimuth Investments. The company will not receive any money from the IPO proceeds and the entire amount will go only to selling shareholders.
Rakesh Jhunjhunwala held 3,294,310 shares, or 11.51 per cent stake, in the company as of September 30, according to the draft red herring prospectus. He is not selling any share through the IPO.
Nazara offers many free-to-play games such as Chhota Bheem, Motu Patlu and Oggy and The Cockroaches. In e-sports, it offers games such as World Cricket Championship 3, World Table Tennis Champions and Carrom Clash. The company generates nearly 40 per cent of its revenues from India, nearly 40-41 per cent from North America and balance from Africa, West Asia and South Africa.