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Rakesh Jhunjhunwala-backed Nazara Technologies IPO sees bumper response, subscribed 175 times on final day
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Nazara eyes India’s vast internet market
Nazara is betting on India’s big and burgeoning internet ecosystem. In an interview with Business Insider, the company’s chief executive officer Manish Agarwal said that the IPO is a huge milestone in their goal of being one of the top 5 global gaming companies.
For youngsters in India, 14-25 year olds, gaming is becoming the go-to entertainment and that will drive growth. “It’s different from people like us for whom movies were the source of entertainment – that’s a big shift, which makes gaming in India a very attractive market,” he said.
Nazara Technologies IPO opens today: Should you bid for Jhunjhunwala-backed firm s share sale?
Nazara Technologies IPO: The firm plans to raises Rs 582 crore through offer for sale (OFS) of up to 5,294,392 equity shares
BusinessToday.In | March 17, 2021 | Updated 11:11 IST
Nazara Technologies IPO: Price band has been fixed at Rs 1,100-01. The bid lot size is of 13 shares and in multiple thereof
Ace investor Rakesh Jhunjhunwala-backed Nazara Technologies launched its three-day initial public offer (IPO) on March 17. The firm is India-based gaming and sports media platform and known for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series.
Nazara Technologies plans to raise Rs 582 crore from IPO through offer for sale (OFS) of up to 5,294,392 equity shares. Price band has been fixed at Rs 1,100-1,101 per share. The bid lot size is of 13 shares and in multiple thereof. Equity shares of Nazara Technologies will be listed on BSE and NSE.