Gaming and sports media platform Nazara Technologies had a great listing on the stock market on Tuesday. The stock was listed at Rs 1,971 with a 79 per cent premium on the BSE. Its issue price was Rs 1,101 per share. At the same time, the stock was listed at Rs 1,990 at an 80.74 per cent premium on the NSE. The company’s IPO received a good response and was subscribed 175 times. Before the IPO, Nazara Technologies raised Rs 261 crore from Anchor Investors.
After listing, the stock of Najara Technologies rose and it reached a high of Rs 2,026.90. The stock is witnessing a decline after reaching a new high. Currently, the stock is trading at Rs 1689.45, down 14.28 per cent from the listing price.
IPO of Nazara Technologies subscribed 175 times
The IPO of Nazara Technologies was subscribed 175 times. The share of qualified institutional buyers (QIBs) was subscribed 103.77 times. Non-institutional investors’ share was 389.89 times and retail individual investors (RIIs) share was subscribed 75,29 times.
Legendary investor Rakesh Jhunjhunwala has invested in the company. It is popular for its game World Cricket Championship, Chhota Bheem and Motu Patlu series.
The company’s IPO opened on March 17 and closed on March 19. The company raised Rs 583 crore from the IPO. ICICI Securities, IIFL Securities, Zephyriji India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited were the managers of this offer.
In the current financial year, companies raised 30 thousand crores from IPO
Explain that Indian companies have raised Rs 31,000 crore from the IPO in the current financial year (2020-21). In the last financial year, an amount of Rs 20,352 crore was raised through 13 IPOs. Similarly, in 2018-19, 14 companies raised Rs 14,719 crore from the IPO. At the same time, in 2017-18, 45 companies raised Rs 82,109 crore from the IPO.