People’s passion for sports and especially cricket in their country is amazing. A large part of the country’s 600 million smartphone users also play online cricket. In this, users can choose the player of their choice among players like Virat Kohli, Mahendra Singh Dhoni, Sachin Tendulkar, Virender Sehwag. Virat Kohli’s video game is named Virat Super Cricket. Apart from this, users can also play IPL. Nazara Technology is giving this experience to its users, which has brought the country’s first gaming company IPO. Investors have also lavished a lot of love on this IPO.
Nazara Technologies IPO has received a subscription of 175 times. Its IPO opened on March 17, which closed on March 19. Its IPO received a subscription of 175.46 times due to good demand from institutional investors. Apart from this, retail investors have also participated in it. As per the data available with the National Stock Exchange, bids were received for a total of 51,25,17,642 shares for this issue of Rs 583 crore. Prior to the IPO, Paheli has collected funds worth Rs 150 crore from the company Xponentia Capital and Jubilant Foodworks.
Price band of Rs 1100-1101
Under this IPO, only 29,20,997 shares were put up for sale. It accounted for 103.77 times in the category of eligible institutional buyers, 389.89 times in the category of non-institutional investors and 75.29 times in the category of retail investors. The price band for the IPO was kept from Rs 1,100 to Rs 1,101. Nazara Technologies raised more than Rs 261 crore from anchor investors on Tuesday.
Earlier, the plan to bring IPO in 2018 was postponed
Najara Technologies had planned to launch an IPO in the year 2018 as well. In April that year, it was also allowed to launch an IPO from SEBI. However, the company postponed its IPO plans due to selling pressure in midcap and smallcap stocks. In the year 2018, SEBI reclassified the mutual fund categories. This had an impact on midcap and smallcap stocks. After reaching record highs in January 2018, the domestic stock markets had been under pressure for two years. The view is a smallcap company. Therefore, he postponed the IPO plan.
Also read, RBI’s foreign exchange reserves rose this week, rose $ 1.73 billion to reach $ 582.03 billion.
(With language input)