January 29, 2021
Gaming and sports media company Nazara Technologies Ltd., last week filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI), after first receiving approval from the markets regulator to go public in 2018.
Founded in 2000 by Nitish Mittersain, Nazara operates in e-sports gaming and content, mobile gaming, and has recently entered gamified learning and real-money gaming, including fantasy sports gaming. Its operations are spread across India, South Asia, North America, and Africa. Some of its brands in India are WCC and CarromClash in mobile games, sports content website SportsKeeda, and HalaPlay and Qunami in real money quiz and gaming.
Nazara s public issue will see a sale of 49,65,476 equity shares by the promoters and existing shareholders, according to draft red herring prospectus (DRHP) filed on Thursday.
New Delhi, Jan 18: Gaming firm Nazara Technologies has filed preliminary papers with capital markets regulator Sebi to float an initial public offering.
Rakesh Jhunjhunwala-backed Nazara Technologies becomes first Indian gaming firm to file IPO
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Besides Jhujhunwala, Plutus Wealth Management, IIFL Special Opportunities Fund, Turtle Entertainment are other key investors
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Nazara Technologies, firm backed by big bull Rakesh Jhunjhunwala, became the first Indian gaming technology company to seek a market debut. Mumbai-based mobile gaming company filed initial public offering documents with the market regulators on Friday.
Founded by gamer Nitish Mittersain in 2000, Nazara is one of the largest interactive gaming and sports media companies in India. The company is known for its games on World Cricket Championship and Chhota Bheem and Motu Patlu series. Its subsidiary Nodwin Gaming hosts multiple gaming events across the country. It has operations in over 60 countries across emerging markets including India, Africa, the Middle East, South East Asia and Latin America.