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Nazara Technologies share closes 44% higher post stellar market debut

Nazara Technologies share market debut: The stock which opened at Rs 1990 touched an intra day high of Rs 2024, rising 83.83% against the IPO issue price on NSE

twitter-logoBusinessToday.In | March 30, 2021 | Updated 21:41 IST
Nazara Technologies share closes 44% higher post stellar market debut
Nazara Technologies share hit an intra day high of Rs 2026 on the bourse, rising 84.01% against the IPO price.

Share of Nazara Technologies closed over 44% higher after clocking a stellar market debut today. The stock of ace investor Rakesh Jhunjhunwala-backed firm ended 44.60% higher against the issue price of Rs 1,101 on NSE. Market cap of the firm rose to Rs 4,848 crore. The share which opened at Rs 1990 touched an intra day high of Rs 2024, rising 83.83% against the IPO issue price on NSE. Price band for the IPO was fixed at Rs 1,100-1,101 per share.

However, the share saw profit-booking toward the end of trade and closed at Rs 1,592 on NSE. Total 74.91 lakh shares changed  hands on NSE  today. On BSE, the stock closed 43.22% or Rs 475.80 higher at Rs 1576 against the issue price of Rs 1101.

It hit an intra day high of Rs 2026 on the bourse, rising 84.01% against the IPO price. The market cap of software firm stood at Rs 4,801 crore on BSE.  Total 8.37 lakh shares changed hands on BSE.

Earlier, the share made a stellar listing on NSE clocking 80.74% gains against the issue price. The share opened at Rs 1,990. On BSE, the share made its debut at Rs 1,971 clocking 79% gain compared to the issue price. The IPO was held from March 17 to March 19. On its last day, the issue was subscribed 175.46 times. The share sale received bids for 51.20 crore equity shares against the IPO size of 29.20 lakh equity shares.

Jhunjhunwala couple earned Rs 18.4 crore per day with this stock for 11 sessions

On March 18, the second day of IPO, the issue was subscribed 10.55 times. The share sale received bids for 3.08 crore equity shares against the IPO size of 29.20 lakh equity shares.

On March 17, the IPO was subscribed 4.01 times on the first day of bidding. The share sale received bids for 1.17 crore equity shares against the IPO size of 29.20 lakh equity shares.

Nazara Technologies has raised Rs 582 crore from its IPO through offer for sale (OFS) of up to 5,294,392 equity shares. The bid lot size was of 13 shares and in multiple thereof. On March 16, the firm raised a little over Rs 261 crore from anchor investors ahead of its initial public offer. The company's initial public offer (IPO) committee decided to allocate 23,73,395 shares to 43 anchor investors at Rs 1,101 per piece.

Jhunjhunwala's favourite stock hits all-time high after jewellery business re-enters growth phase in Q3

ICICI Securities, Nomura Financial Advisory and Securities (India) Private Limited, Jefferies India Private Limited and IIFL Securities have been appointed as the merchant bankers to manage the company's initial public offer.

The firm is India-based gaming and sports media platform and known for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series.

Rakesh Jhunjhunwala buys stake in this Tata Group firm, stock zooms 10%

This Jhunjhunwala stock rose 232% in one year, hit all-time high today

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