Nazara Technologies IPO Subscribed 175.46 Times On Final Day Of Issue

Nazara Technologies share sale via the ongoing share sale via initial public offering (IPO) was subscribed 175.46 times on the third and final day of the issue, according to subscription data on the exchanges. The Rakesh Jhunjhunwala-backed gaming company’s IPO was subscribed 10.55 times on the second of the issue yesterday – March 18. The portion reserved for retail investors in the IPO was subscribed 75.29 times on March 19 by 5:00 pm. Non-institutional investors showed an overwhelming interest in the IPO as the portion set aside for them was subscribed 389.89 times, while the portion reserved for qualified institutional buyers was subscribed 103.77 times. (Also Read: Nazara Technologies IPO Subscribed 10.55 Times On Second Day Of Issue )

Nazara Technologies- backed by ace investor Rakesh Jhunjhunwala is the country’s first gaming company to get listed on the stock exchanges. The company is sold shares in the price band of Rs 1,100 – Rs 1,101 per share. Nazara Technologies’ ₹ 582.91 crore IPO opened for subscription on Wednesday, March 17, and closed today – Friday, March 19, remaining open for investors for a period of three days.

According to data on stock exchanges, the company’s IPO market lot size is 13 shares. The bids could be made for a minimum of one lot of 13 equity shares and in multiples, extending up to 13 lots. This translated into a minimum investment of Rs 14,313 per person.  A retail-individual investor could apply for up to 13 lots, specifically 169 shares or ₹186,069. 

The gaming company was incorporated in 1999 and is now operates as the leading mobile gaming firm in the country. Nazara Technologies operates in various segments including subscription-based business, eSports, gamified early learning, as well as real money gaming. The company’s subscription business focuses on mobile internet users comprising mainly first-time mobile gamers.