IPO News

Nazra Technologies to kick off India’s Tech IPO rush

Nazra Technologies has become the first ever Indian gaming startup to have an IPO (Initial Public Offering). This Mumbai based gaming startup filed its initial public offering on Friday backed by Rakesh Jhunjhunawala.

This technology startup was founded by Nitish Mittersain in 2000 and is currently one of the largest sports-media and interactive gaming companies in India.

It is well known for its games on children cartoons “Chhota Bheem” and “Motu Patlu” series. It is the company that launched games on World Cricket Championship.

The company also have one of its well-known subsidiaries “Nodwin Gaming” which hosts multiple gaming events across the country.

Plutus Wealth Management, IIFL Special Opportunities Fund, Turtle Entertainment are other key investors apart from big bull Rakesh Jhunjhunawala.

Nazara Technologies made many investments and acquisitions in various gaming categories, including Esports.

The company also invested in edutainment, infotainment, fantasy sports, multiplayer games like carrom and mobile cricket games over the years to reinforce its position.

The famous WCC and CarromClash in mobile games, Kiddopia are under the IPs of Nazara Technologies.

Also, the company has ownership in various categories like NODWIN and Sportskeeda in esports and esports media, and Halaplay and Qunami in skill-based, fantasy and trivia games.

Also, Plutus Wealth Management LLP along with its associates acquired shares worth over Rs.500 crore of the company from WestBridge.

This giant startup company generated revenue around Rs 180 crore in 2018 and rose to Rs 183 crore in 2019.

The founder Nitish Mittersain started this company by borrowing Rs 3 crore from his friends and family to start this company and it now operates in 52 countries.

The Nazara IPO plans to offer up to 49.6 lakh equity shares at a face value of Rs 4 each for sale.


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