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Nazara Technologies IPO subscribed 10.55 times on day 2, retail portion booked 44 times

Nazara Technologies IPO subscription: Retail investors submitted bids 44.47 times the reserved portion, while that of non-institutional investors was subscribed 7.73 times

twitter-logoBusinessToday.In | March 19, 2021 | Updated 10:47 IST
Nazara Technologies IPO subscribed 10.55 times on day 2, retail portion booked 44 times
The share sale received bids for 3.08 crore equity shares against the IPO size of 29.20 lakh equity shares.

The initial public offer (IPO) of ace investor Rakesh Jhunjhunwala-backed Nazara Technologies was subscribed 10.55 times on the second day of bidding on March 18. The share sale received bids for 3.08 crore equity shares against the IPO size of 29.20 lakh equity shares.

Retail investors submitted bids 44.47 times the reserved portion, while that of non-institutional investors was subscribed 7.73 times. Employees portion was booked 5.33 times. The company will allot 20,181 shares  worth Rs 2 crore to its employees. The reserved portion for qualified institutional buyers' was subscribed 72 percent.

On Wednesday, 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. The gaming firm launched its three-day initial public offer (IPO) on March 17.

Nazara Technologies IPO opens today: Should you subscribe to the issue?

Nazara Technologies plans to raise Rs 582 crore from IPO through offer for sale (OFS) of up to 5,294,392 equity shares. Price band has been fixed at Rs 1,100-1,101 per share. The bid lot size is of 13 shares and in multiple thereof.

Equity shares of Nazara Technologies will be listed on BSE and NSE. The IPO will conclude on March 19. 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.

Among the anchor investors were Government of Singapore, Abu Dhabi Investment Authority, Goldman Sachs India Ltd, Noumura Funds Ireland Public Limited Company, Steadview Capital Mauritius Ltd. Those selling shares in the IPO include Mitter Infotech LLP, a promoter of the company, IIFL Special Opportunities Fund, Good Game Investment Trust, IndexArb Securities and Azimuth Investments.

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.

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