Nazara Technologies IPO subscription, Allotment, and Listing: All Details highlighted

The initial public offering (IPO) of Nazara Technologies was subscribed 175.5 times on the last day of subscription, i.e. on March 19, 2021. The retail portion was subscribed 75 times, while the NII and QIB portions were subscribed 390 times and 104 times, respectively. The employee quota was subscribed 7.55 times. The price band for the issue was fixed at Rs 1100 - 1101 per equity share. The company seeks to raise Rs 582 crore from the public issue. Many analysts believe that the allocation will be done on March 24, the shares will get credited around March 26 and trading will commence March 30.

Nazara Technologies IPO - Objects of the offer:

The objects of the Nazara Technologies Offer are to carry out the Offer for Sale of up to 5,294,392 Equity Shares by the Selling Shareholders and to achieve the benefits of listing the Equity Shares on the Stock Exchanges. Nazara Technologies expects that listing of the Equity Shares will enhance its visibility and brand image and provide liquidity to its shareholders and will also provide a public market for the equity shares in India.
 

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Nazara Technologies Business Overview:
 
Nazara Technologies 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.
 
Nazara Technologies seeks to achieve this by providing interactive mobile games, eSports content and gamified early learning apps which are entertaining, locally relevant and result in positive engagement and longer retention of users of its platform. Given its market-first position in India across sports simulation and eSports (Source: F&S Report) it believes that is is well placed to leverage the opportunity that interactive mobile games, eSports content and gamified early learning apps offer.