Nazara Technologies IPO Date: Rakesh Jhunjhunwala-linked company to hit the street on March 17

Nazara Technologies IPO Date: Rakesh Jhunjhunwala is one of the key investors in Nazara Technologies, The Big Bull is known for multiplying his wealth by investing in quality companies. Retail investors are extremely excited because, after MTAR Technologies IPO's strong listing today, they are expecting very strong returns from Nazara Technologies IPO as well. So, though markets are off from all-time highs, still investors are showing tremendous interest in IPOs as they are expecting strong listing gains and an opportunity to invest for the long term. That applies to Nazara Technologies IPO too.

Nazara Technologies IPO issue details: Offer for sale is of upto 5,294,392 Equity Shares. The Issue size is Rs 582 – Rs 583 Cr. The Face value of the share is Rs 4 and the Employee Reservation is Equity Shares aggregating upto Rs 2 cr. The Price band is Rs 1100 – Rs 1101. The Bid Lot is of 13 Shares and in multiple thereof. The  Employee Discount is Rs 110/- per Share. Post Issue the Implied Market Cap of the company will be Rs 3350 – Rs 3353 cr. The Book Running Lead Managers is ICICI Securities, IIFL Securities, Jefferies India, Nomura Financial. The Registrar is Link Intime India. The Issue opens on Wednesday, 17th Mar’2021 and closes on Friday, 19th Mar’2021

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Nazara Technologies Limited was incorporated on December 8, 1999. Nazara is the leading India based diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America, and offerings across the interactive gaming, eSports and gamified early learning ecosystems including World Cricket Championship (WCC) and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin and Sportskeeda in eSports and eSports media, and Halaplay and Qunami in skill-based, fantasy and trivia games.

Given their market-first position in India across sports simulation and eSports, Nazara is well placed to leverage the opportunity that interactive mobile games, eSports content and gamified early learning apps offer. Their effort has been to grow revenue and profitability concurrently by leveraging their capabilities of in-house content creation, game engine development, technology stack development, relationships with other participants in gaming ecosystems and their skilled leadership.

Nazara has focused on growing a profitable business, with an emphasis on self-sustainability rather than relying on external investments. This is reflected in their fund-raising history, wherein the have raised ₹ 12.63 crore (in two tranches in 2005 and 2007) and ₹ 76.53 crore in 2018. As a result, they have historically been EBITDA positive and have generated sufficient cash flows from their operations, resulting in cash and cash equivalents and other bank balances aggregating to ₹184.28 crore as at September 30, 2020.

Their content is developed in India for the Indian as well as global audience, allowing them to achieve scale, as evidenced by an average of 40.17 million Monthly Active Users (“MAUs”) for Financial Year 2020 and an average of 57.54 million MAUs across all games for the 9 month period ended December 31, 2020.

Nazara Technologies growth is also driven by highly coveted investors such as IIFL, Rakesh Jhunjhunwala and Utpal Sheth.