Nazara Technologies’ IPO Becomes Second-Most Subscribed Issue So Far In 2021
An attendee plays a video game during an expo in Los Angeles. (Photographer: Patrick T. Fallon/Bloomberg)

Nazara Technologies’ IPO Becomes Second-Most Subscribed Issue So Far In 2021

Nazara Technologies’ Rs 583-crore initial public offering beat Easy Trip Planners to become the nation’s second-most subscribed issue so far in 2021, riding on the optimism that has extended into the new calendar year.

The Indian gaming and diversified sports platform’s IPO was subscribed 175.46 times at 5 p.m. on March 19, led by non-institutional investors who bid 389.89 times the shares on offer, according to data available on exchanges. Also, institutional investors who were hesitant during the first two days lapped up shares on the final day.

Subscription details:

  • Institutional investors: 103.77 times.

  • Non-institutional Investors: 389.89 times.

  • Retail investors: 75.29 times.

  • Employee: 7.55 times.

The issue — the eighteenth to go public so far this year— received bids for 92.88 crore shares compared to 52.94 lakh shares on offer at Rs 1,100-1,101 apiece.

Various stakeholders of the company, which is also India’s only gaming firm with a presence in emerging and developed markets such as African and North American countries, encashed whole or part of their stake through the initial share sale of the company.

ICICI Securities, IIFL Securities, Jefferies India and Nomura Financial were book-running lead managers.

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