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NEW DELHI: The Rs 583 crore IPO of Rakesh Jhunjhunwala-backed Nazara Technologies will open for subscription on Wednesday, March 17. It will close for bidding on Friday, March 19.
The price band for the issue has been fixed at Rs 1,100-1,101.
The issue is entirely an offer for sale by existing shareholders who include IIFL Special Opportunities Fund, Mitter Infotech, Good Game Investment Trust, Seedfund 2, Porush Jain and Azimuth Investments. The company will not receive any money from the IPO proceeds and the entire amount will go only to selling shareholders.
Rakesh Jhunjhunwala held 3,294,310 shares, or 11.51 per cent stake, in the company as of September 30, according to the draft red herring prospectus. He is not selling any share through the IPO.
Nazara offers many free-to-play games such as Chhota Bheem, Motu Patlu and Oggy and The Cockroaches. In e-sports, it offers games such as World Cricket Championship 3, World Table Tennis Champions and Carrom Clash. The company generates nearly 40 per cent of its revenues from India, nearly 40-41 per cent from North America and balance from Africa, West Asia and South Africa.
ICICI Securities, IIF Securities, Jefferies India and Nomura Financial Advisory and Securities are the book running lead managers to the issue. Link Intime India is the registrar.
The much-awaited IPO of Nazara will run alongside at least four other issues in a busy week for the primary market.
The price band for the issue has been fixed at Rs 1,100-1,101.
The issue is entirely an offer for sale by existing shareholders who include IIFL Special Opportunities Fund, Mitter Infotech, Good Game Investment Trust, Seedfund 2, Porush Jain and Azimuth Investments. The company will not receive any money from the IPO proceeds and the entire amount will go only to selling shareholders.
Rakesh Jhunjhunwala held 3,294,310 shares, or 11.51 per cent stake, in the company as of September 30, according to the draft red herring prospectus. He is not selling any share through the IPO.
Nazara offers many free-to-play games such as Chhota Bheem, Motu Patlu and Oggy and The Cockroaches. In e-sports, it offers games such as World Cricket Championship 3, World Table Tennis Champions and Carrom Clash. The company generates nearly 40 per cent of its revenues from India, nearly 40-41 per cent from North America and balance from Africa, West Asia and South Africa.
ICICI Securities, IIF Securities, Jefferies India and Nomura Financial Advisory and Securities are the book running lead managers to the issue. Link Intime India is the registrar.
The much-awaited IPO of Nazara will run alongside at least four other issues in a busy week for the primary market.
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3 Comments on this Story
 | Om Parkash Goel3 days ago RK JHUNJHHUNUWALA BACKED A TO Z SHARE WAS ISSUED AT 200/-. TODAY RATE 10/- BEWARE INVESTOR AND DO NOT TOUCH THIS TIME NAZARA TECH JHUNJHANA. WARNA JHUNJHNA BAJATE RAH JAOGE. |
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