Nazara Tech IPO subscribed 175.5 times on final day

NEW DELHI: Nazara Technologies, a Rakesh Jhunjhunwala-backed mobile gaming company, saw its initial public offer (IPO) attracting 175.5 times bids on the final day of the bidding process. The issue received bids for 51,25,17,642 shares by 5:00 pm, which was 35.67 times the issue size of 29,20,997 shares.

The IPO is an offer for share (OFS) of 5.29 million shares being sold in the price band of Rs 1,100 to Rs 1,101 per equity share, representing 16.7 per cent stake in the company. Ahead of its IPO, the company allotted Rs 261 crore worth shares to 43 anchor investors at Rs 1,101 per piece.

Nazara is the only company in India to have rights over IP and assets across grassroot, regional, national and international eSports.