BUMPER debut for Nazara Technologies shares after IPO success! Rakesh Jhunjhunwwala-backed gaming company listing gain hits 79-pct mark

Nazara Technologies IPO Listing: Nazara Technologies Initial Public Offer (IPO) has listed at around 79 per cent premium, which is in sync with the stock market experts' expectations. The market experts had predicted a bumper debut for Nazara Technologies shares and the public issue opened at Rs 1926.75 on the BSE and at Rs 1971 on the NSE. The price band of the Rakesh Jhunjhunwala-backed Nazara Technologies IPO was Rs 1100 to Rs 1101. Experts have advised Nazara Technologies shareholders to hold and wait for the next two to three days as it may go up to Rs 2,000.

Speaking on the strategy for Nazara Technologies shareholders, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Nazara Technologies IPO has opened above Rs 1,900. That is in sync with market expectations. However, the IPO was mainly subscribed by the institutions and retailers have not more than 15 per cent shares. So, retailers are expected to go for the purchase of Nazara Technologies shares in next one to two days. Apart from this, some mutual fund houses and other institutions may buy into this Rakesh Jhunjhunwalala-backed company. So, my advice is to hold the Nazara Technologies shares for at least next one to two days for a Rs 2,000 target."

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Nazara Technologies IPO Listing: Anil Singhvi's spot on prediction
In the morning, while unveiling his money making strategy for Nazara Technologies share holders, Zee Business Managing Editor Anil Singhvi had said that Nazara Technologies IPO listing will happen around Rs 1,800 to Rs 1,850, which has come true. He too had advised Nazara Technologies share holders to hold the counter maintaining the stop loss at Rs 1,700. The Market Guru went on to advise that one should keep upgrading the trailing stop-loss on every new rise in the Nazara Technologies stocks.

Nazara Technologies' initial public offer (IPO), boosted by high demand from institutional investors, was subscribed a whopping 175.46 times on the last day of subscription on March 19. According to subscription data on the exchanges, the ₹583-crore IPO received bids for 51,25,17,642 shares against 29,20,997 shares on offer.