Nazara grey market premium holds up; CEO sees better times ahead

NEW DELHI: Nazara Technologies would become the first mobile gaming company to debut on the stock exchanges on Friday. The grey market premium on the stock had fallen recently, but is holding up now, offering decent listing prospects.

“Indian gaming market had been slow on uptick. Now, it is on fire,” Manish Agarwal, Chief Executive Officer, Nazara Technologies, told ETMarkets.com in a pre-IPO telephonic interview.

Founder Nitish Mittersain said the challenge in the early years of Nazara’s setup was that the penetration of gaming devices was very low in India, and many people did not have gaming consoles at home.