Nazara Technologies IPO: Rakesh Jhunjhunwala Has Investment in This Indian Gaming Platform; Check Initial Public Offering Subscription Details

NEW DELHI: Rakesh Jhunjhunwala-backed Nazara Technologies Initial Public Offering (IPO) was subscribed a staggering 4.01 times. Nazara Technologies IPO has received bids for 1.17 crore even as the Indian gaming and sports media platform had offered an IPO size of 29.10. The Retail portion witnessed subscription 16.75 times, the non-institutional portion is subscribed 2.85 times, and the employees’ portion is booked for 2.28 times. Nazara Technologies Limited’s Rs 583 crore IPO opened on Wednesday and it will close on Friday, March 19. Nazara Technologies IPO will be listed on BSE Sensex.

Rakesh Jhunjhunwala Investment in Nazara Technologies IPO

Market guru Rakesh Jhunjhunwala has invested in Nazara Technologies. Jhunjhunwala holds 3.29 million shares which translates into an 11.51 per cent stake in the Indian company. While Nazara Technologies’s 5.29 million shares are set to be offloaded by other shareholders, Jhunjhunwala is holding on to his stake providing a major boost to the company in IPO. Rakesh Jhunjhunwala’s presence has created a buzz as Nazara Technologies IPO has so far received positive responses in the subscription aspect.

Nazara Technologies IPO; Details You Should Not Miss

Nazara Technologies IPO is providing not more than 15 per cent of the net offer through Non-Institution Portion. Nazara Technologies IPO retail portion is not more than 10 per cent of the net offer. Nazara Technologies IPO QIB portion is not less than 75 per cent of the net offer.Nazara Technologies IPO price band has been fixed at Rs 1,100 to Rs 1,101 per equity share of the face value of Rs 4 each. Nazara Technologies IPO floor price is 275.00 times the face value of the equity shares and the cap price is 275.25 times the face value of the equity shares. Bids for Nazara Technologies IPO can be made for a minimum of 13 equity shares and in multiples of 13 equity shares thereafter.Nazara Technologies IPO has a reservation portion for employees. A discount of Rs 110 per equity share is being offered to eligible employees bidding in the employee reservation portion. The Equity shares aggregating up to Rs 20 million.All bidders must utilize the Application Supported by Blocked Amount (ASBA) process providing their banking details including UPI ID for those who are using the UPI mode of payment. No cheques will be accepted for Nazara Technologies IPO.