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.