Nazara Technologies IPO – Review, Allotment Status, Price, Date & more
Last Updated Date: Nov 18, 2022Let’s have a detailed review of the company and analytics of the Nazara Technologies IPO release date, IPO offer price, subscription, Nazara Technologies Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
| Face Value | Rs 4 |
| Price Band | Rs 1100 to 1101 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 13 Shares |
| Listing Date | Mar 30, 2021 |
| Offer for Sale | Rs 582.91 Cr |
| Fresh Issue | Rs 582.91 Cr |
| IPO Size | Rs 546.70 Cr |
| Tick Size | Rs 1 |
Nazara Technologies IPO is listed at [●]% premium, check out the live share price by clicking on the below link.
Summary of Nazara Technologies IPO
The IPO from the Nazara Technologies Limited is the first IPO to be raised by an online gaming company. The company designs and develops games for mobiles and other electronic devices have drafted papers with SEBI to raise an IPO.
The company is the brain behind some of the popular games like Chhota Beam, Motu and Patlu Series and World Cricket Championship. 5,543,052 number of equity shares are to be sold by the company by the existing shareholders of the company.
The equity shares are being sold in order to improve the brand value of the company and to provide liquidity to the equity shares held by the existing shareholders.
The ICICI Securities and Edelweiss Financial Services are proposed to manage the Initial Public Offer of the company. The equity shares of the company will be listed on both the major stock exchanges like BSE and NSE.
West Bridge Ventures Investment Holdings and Mitter Infotech hold the major equity shares that are listed on the draft red herring prospectus.
The Promoters of this company are IKASH MITTERSAIN, NITISH MITTERSAIN AND MITTER INFOTECH LLP. The lead managers to the issue are ICICI Securities Limited and Edelweiss Financial Services Limited, and the Registrar to this issue is Link Intime India Private Limited.
Check similar articles for this IPO
| Nazara Technologies IPO GMP |
| Allotment of Nazara Technologies IPO |
Nazara Technologies IPO Date
The opening and the closing date of IPO of Nazara Technologies Limited is Mar 17, 2021 and Mar 19, 2021.
Nazara Technologies Limited IPO Subscription
| Day / Date | QIB | NII | RII | Empl | Total Subscription |
| 1st Day – Mar 17 | 0.36x | 2.85x | 16.75x | 2.28x | 4.01x |
| 2nd Day – Mar 18 | 0.72x | 7.73x | 44.47x | 5.33x | 10.55x |
| 3rd Day – Mar 19 | 103.77x | 389.89x | 75.29x | 7.55x | 175.46x |
| Shares Offered or Net Issue | 1,582,264 | 791,131 | 527,421 | 20,181 | 2,920,997 |
The shares subscribed by the public will be updated here.
Check Nazara Technologies IPO LIVE Subscription
For the Latest Bid details click on the above links.
Nazara Technologies Limited IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.
Nazara Technologies Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing and more:
| Basis of Allotment Finalization | Mar 24, 2021 |
| Refunds Initiation | Mar 25, 2021 |
| Credit of Shares to Demat Account | Mar 26, 2021 |
| Share Listing Date | Mar 30, 2021 |
Nazara Technologies IPO Price Band / Cash Price
The face value of each share is Rs 4, but the price band of the IPO is Rs 1100 to 1101.
Nazara Technologies IPO Equity Size
This Initial Public Issue of [●] Equity Shares of Rs.4 each for cash at a price of Rs 1100 to 1101 per equity share aggregating to Rs.[●] million.
Nazara Technologies IPO Share Offering
Fresh Issue: The Fresh Issue of 5,294,392 Equity Shares by their Company, aggregating to Rs 582.91 Cr,
Issue Size: 5,294,392 Equity Shares of Rs.4 each, aggregating to Rs.582.91 Cr
Offer for Sale: Offer for sale consists of Up to 5,294,392 Equity Shares of face value of Rs.4 each, aggregating Rs 582.91 Cr
Nazara Technologies IPO – Live Performance
The listing date of this IPO is NA. You can check the live performance of the IPO here, only after it is listed on exchanges.
Nazara Technologies IPO Grey Market Premium
The Nazara Technologies IPO Grey Market Premium price is Rs 910-920, the Kostak rate is Rs X and the Subject to Sauda is Rs 9000.
Nazara Technologies IPO – Company Overview
Nazara Technologies Limited is a gaming company that has more than 60 clients all over the world. The company provides mobile subscription gaming to the mobile phone users.
The mobile gaming company has grown so enormously in the past few years that ace investors like Rakesh Jhunjhunwala have invested in the stocks of this firm. The company aims to provide a public market for the equity shares in India. The company is headquartered in Mumbai, India
Nazara Technologies IPO Business Verticals
Gaming company is involved in the acquisition and the value addition of the games that are present in the gaming world. The independent subsidiaries of the company are Next Wave Multimedia and NODWIN GAMING.
The investee companies are Moonglabs Technologies Private Limited, HalaPlay Technologies Private Limited, Hashcube Inc., and Mastermind Sports Limited. The subscription services of the company are accessed by over 130.43 million monthly visitors from all over the globe.
Nazara Technologies IPO – Financial Statement
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary
| Assets (in INR & Millions) | ||||
| Sep 20 | Mar 20 | Mar 19 | *Mar 18 | |
| Total Assets | 7,986.55 | 7,768.29 | 5,145.83 | 4,707.59 |
| Total Revenue | 2,070.06 | 2,621.46 | 1,860.98 | 1,819.40 |
| Total Expense | 2,135.85 | 2,811.50 | 1,742.80 | 1,333.72 |
| Profit After Tax | (101.07) | (266.15) | 67.13 | 10.23 |
Earnings per Equity Share
| Earning per Equity Share (in INR) | ||||
| Sep 20 | Mar 20 | Mar 19 | *Mar 18 | |
| Basic | (1.78) | (0.77) | 6.39 | 1.05 |
| Diluted | (1.78) | (0.77) | 6.27 | 1.04 |
Nazara Technologies has seen a massive growth in its last 5 years where the PAT has grown more than 4x & Revenue has grown more than 3x. IPO should get a good exposure in the market as the company is showing very good growth.
Nazara Technologies IPO – Promoters
The Promoters of the Company are
- Vikash Mittersain
- Nitish Mittersain
- Mitter Infotech LLP
List of Related Parties (Key Managerial Personnel)
- Vikash Mittersain (Chairman & MD)
- Nitish Mittersain (Joint MD)
- Kuldeep Jain (Non-Executive Director)
Competitive Strengths of Nazara Technologies Limited
- Sustained profitability and rapid growth of our operations
- Scalable and asset light model across business offerings
- Diversified business across geographies, telecom operators, gamers and gaming content
- Experienced and dedicated management team
Nazara Technologies IPO Offer Details or Issue Details
| Offer of Equity Shares | Up to 5,543,052 Equity Shares aggregating up to `[●] million |
| of which | |
| A) QIB portion | Atleast [●] Equity Shares |
| of which: | |
| (i) Anchor Investor Portion | Not more [●] Equity Shares |
| of which: | |
| Available for allocation to Mutual Funds only | [●] Equity Shares |
| Balance for all QIBs including Mutual Funds | [●] Equity Shares |
| (ii) Balance available for allocation to QIBs other than | |
| Anchor Investors (assuming Anchor Investor Portion is fully subscribed) | [●] Equity Shares |
| of which: | |
| Available for allocation to Mutual Funds only (5% of the QIB Portion excluding the Anchor Investor Portion) | [●] Equity Shares |
| Balance for all QIBs including Mutual Funds | [●] Equity Shares |
| B) Non-Institutional Portion | Not more than [●] Equity Shares |
| C) Retail Portion | Not more than [●] Equity Shares |
| Pre and post Offer Equity Shares | |
| Equity Shares outstanding prior to the Offer | 26,972,619 Equity Shares |
| Equity Shares outstanding after the Offer | 26,972,619 Equity Shares |
The company has posted in the draft red herring prospectus that they are going to issue 55.43 lakh shares in the market. They have not given any specific issue size as of now.
Nazara Technologies IPO Issue Object
Here are the Object of the IPO issue:
- To achieve the benefit of listing equities in the stock exchange
- Listing of Shares in Stock market will enhance the Brand image of the company
Business strategies of Nazara Technologies Limited
- Continue organic growth of our Subscription Business
- Increased focus on scaling operations in the Freemium Business
- Pursue strategic acquisitions and partnerships
- Develop intellectual property of our network of games
Nazara Technologies IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative Factors
The company believes that their qualitative strengths help them to compete in the highly competitive industry. These are the factors:
- There is sustained profitable conditions and rapid growth in the operations of the company
- Their gaming insights that have the monetary capacities in the emerging markets
- Their business offerings that are scalable
- The light asset model of the company
- Diversified business operations across varied geographies, the telecommunication companies, gaming organizations and gaming content
- Highly experienced and dedicated managers of the team
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-20 | (0.77) , (0.77) | (0.46) | 165.54 |
| 31-Mar-19 | 6.39 , 6.27 | 4.23 | NA |
| Mar-18 | 1.05 , 1.04 | 0.73 | NA |
Nazara Technologies IPO : Competitive Peers
There are no listed entities in India whose business portfolio is comparable with that of their business.
Nazara Technologies Limited IPO Lead Managers
| Lead Managers |
| ICICI Securities Limited IIFL Securities Limited* Jefferies India Private Limited Nomura Financial Advisory and Securities (India) Private Limited |
Nazara Technologies IPO Registrar to the Offer
| Registrar of the Offer |
| Link Intime India Private Limited C-101, 1st Floor, 247 Park L.B.S. Marg, Vikhroli (West), Mumbai 400 083 Maharashtra, India Tel: 022 4918 6200 E-mail: nazara.ipo@linkintime.co.in Investor grievance e-mail: nazara.ipo@linkintime.co.in Website: www.linkintime.co.in Contact Person: Shanti Gopalakrishnan SEBI Registration No.: INR000004058 |
Nazara Technologies IPO – Other Details
- Statutory Auditor – Walker Chandiok & Co LLP
- Legal Counsel to the Company – M/s. Crawford Bayley & Co.
- Bankers to the Company – Kotak Mahindra Bank Limited, HDFC Bank Limited, Deutsche Bank AG, Axis Bank Limited
Nazara Technologies IPO Review by Top Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Nazara Technologies IPO News
News 1 – Nazara Technologies files IPO papers with Sebi
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