Another share of Nazara Tech has been listed in the market today. On the BSE, NAZARA TECH’s stock is priced at Rs. 1971, representing a 79 percent premium. On the NSC, Nazara Tech’s stock is valued at 1990 rupees. Darshu Tech (Nazara Tech), a Rakesh Jhunjhunwala-backed online gaming venture, launched its initial public offering on March 17 and closed on March 19.
Nazara Tech’s price range was set at Rs 1100-1101. This IPO brought in Rs 583 crore for the company.
Rakesh Jhunjhunwala’s interest in the company has not been sold through an Offer For Sale. As a result, investor sentiment was also strong. The initial public offering (IPO) was oversubscribed 175 times. Anchor Investors helped the company collect Rs 262 crore at a price of 1101 per share.
Rakesh Jhunjhunwala holds an 11.51 per cent stake in Nazara Tech as of September 2020 quarter. The company has a reach in Africa and North America besides India. World Cricket Championships, Chhota Bheem, and the Mota Patlu series are all games developed by Najara Technologies. Nodwin Gaming, a subsidiary of the group, organises numerous gaming events across the world. More than 60 countries are served by the company.
The company has made several acquisitions in different gaming categories to expand its penetration in the gaming and sports media space. Esports, edutainment, infotainment, and fantasy sports are examples of these. Previously, the company had purchased multi-player games such as carrom and cricket.