Nazara Technologies shares: After IPO, Rakesh Jhunjhunwala-backed company opens at massive premium; Anil Singhvi explains road ahead

Nazara Technologies shares: Big relief for investors as they logged massive Nazara Technologies IPO listing gains. Nazara shares were listed on stock exchanges on over 70 per cent premium on Tuesday, said Zee Business Managing Editor Anil Singhvi.  On NSE, the mobile gaming company was listed at Rs 1926.75 against its issue price of Rs 1101, while on BSE it was listed at Rs 1971.

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Talking about Nazara Technologies listing, Zee Business Managing Editor said, "I am sure very few people would have gotten the allotment, given its bumper subscription. However, it is a very strong listing, and the stock should continue to do well even after listing. It is now expected that a follow up buying will be seen from lower levels," the Market Guru said.
Earlier, Anil Singhvi, while talking to the management of the company had said that one should apply for this IPO for big listing gains.

नजारा टेक की 79% प्रीमियम पर शानदार लिस्टिंग...

इश्यू प्राइस ₹1101 के मुकाबले NSE पर ₹1926.75 और BSE पर ₹1971 पर लिस्ट#NazaraTechnologies #NazaraTech #IPO @AnilSinghvi_ pic.twitter.com/3Q9EoTgJEx

— Zee Business (@ZeeBusiness) March 30, 2021

This Rakesh Jhunjhunwala-backed gaming company had witnessed massive subscription. Qualified institutional buyers (QIBs) portion was subscribed 103.77 times, that of non-institutional investors 389.89 times and retail individual investors (RIIs) 75.29 times. Nazara Technologies also generated a little over ₹261 crore from anchor investors.

Nazara Technologies is a leading India-based diversified gaming and sports media platform with a presence in India and across the globe. It has offerings across interactive gaming, eSports and gamified early learning ecosystems. The company owns some of the most recognizable IP, including WCC & CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin & Sportskeeda in eSports and eSports media, and Halaplay Technologies Halaplay and Qunami in skill-based, fantasy & trivia games. Nazara was among the first entrants in India, in eSports through Nodwin and cricket simulation through Nextwave.