Nazara Technologies to open IPO on 17 March; bidding for anchor investors to begin tomorrow

The public issue of the company will witness the sale of 52,94,392 equity shares by the promoters and existing shareholders

FP Trending March 15, 2021 16:06:46 IST
Nazara Technologies to open IPO on 17 March; bidding for anchor investors to begin tomorrow

Representational image. PTI

Nazara Technologies, which is a gaming firm, will open its initial public offering (IPO) for subscription on Wednesday, 17 March. The three-day public issue will conclude on Friday, 19 March, while it is likely to list on the BSE and NSE on 30 March.

In a virtual press conference, the company said that the bidding for anchor investors will open on Tuesday.

The public issue of the company will witness the sale of 52,94,392 equity shares by the promoters and existing shareholders. Mitter Infotech LLP, promoter of the company, IIFL Special Opportunities Fund, Good Game Investment Trust, IndexArb Securities and Azimuth Investments will be selling shares in the IPO.

Here is all you need to know before bidding in the IPO:

1. The prize band fixed for the offering is Rs 1,100 - Rs 1,101 per share. While the lot size is 13 shares.

2. A reservation aggregating up to Rs 2 crore for purchase by the company's employees is also included in the offer.

3. The IPO is expected to fetch Rs 583 crore at the upper end of the price band.

4. The main objective of the IPO is to use the proceeds to achieve the benefits of listing Equity Shares on the Stock Exchanges. The listing of equity shares will also enhance the company's brand name and provide liquidity to the existing shareholders.

5. The lead managers of the issue include ICICI Securities, Nomura Financial Advisory and Securities (India) Private Limited, Jefferies India Private Limited and IIFL Securities.

6. Link Intime India Private Ltd is the registrar of Nazara Technologies IPO.

7. Investors can apply in Nazara Technologies IPO online using either UPI (offered by brokers who do not offer banking services) or ASBA (available in the net banking of your bank account) as a payment method.

About the company

Nazara Technologies Ltd was incorporated in 1999 and is a leading mobile game company in India. The company is backed by Rakesh Jhunjhunwala and is popularly known for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series.

The company in February 2018 had filed preliminary papers with SEBI and had received approval from the market regulator to float the IPO however the firm did not launch its public issue at that time.

Updated Date:

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