Nazara Technologies Listing Today: Gaming and sports media platform Najara Technology has a strong entry in the market share. Najara Technology shares were listed with a 79 per cent premium over BSE and NSE. The issue price for the IPO was fixed at Rs 1100-1101 per share. Whereas it is listed at Rs. 1971 on BSE and Rs. 1990 on NSE. This means that the listing gain in each share has been 79 percent. Explain that veteran investor Rakesh Jhunjhunwala has invested in the company. Due to which, there was a lot of craze among the investors. Investors subscribed to this issue up to 176 times. This is the second highest subscriber issue of this year in an issue with more than 200 crores. The lot size was 13 shares, that was to put at least Rs 14313 in the IPO.
Investors got great response
There has been a strong response from investors regarding the IPO of Najara Technology. This IPO has been subscribed 176 times. Reserve Porson received 75 times bids for retail investors, while Reserve Porsons subscribed 104 times for qualified institutional investors. Reserve Porson received 390 times bids for non-institutional investors.
Sell or hold shares
Brokerage house Angel Broking says that although the company had incurred losses in the past, the company has increased spending on advertising and promotion, which will benefit. The company’s topline growth is looking better. Najara Technology is a leading company in gaming and sports media platforms. The business model of the company is also better. At the same time, according to brokerage house BP Equitas, the view technology listing is better for gain. According to the report, the company will benefit due to the leading position in the mobile gaming industry. It is the first pure play gaming company, which is getting listed in the market share.
Gray Market Premium
Prior to the listing, the premium of Najara Technology shares was 64 per cent in the gray market. Shares in the gray market were trading at a premium of Rs 690-700. Although a few days ago, they were trading at a premium of 840-850 rupees. At the moment, there were signs of good listings from the gray market premium.
About the company
The founder of Najara Technology is Nitish Mitrasen, who founded the company in 2000. Najara Technology is known for games like World Cricket Championships, Chhota Bheem, Mota Patlu series. Its subsidiary company Nodewing Gaming organizes various gaming events across the country. The company has business in more than 60 countries like India, Africa, Middle East, South East.
To increase penetration in the gaming and sports media space, the company has made several acquisitions across multiple gaming categories. The company’s platform hosts multiple content categories, including subscription business, freemium business and esports business. In smartphone gaming, Nazara Technology has built a strong network of millions of customers in the last few years.
Financial
The company’s financial health is fine. The company has raised 12.63 crores in 2005 and 2007 and 76.53 crores in 2018. The company’s EBITDA during the 6-month period ended in September 2020 through operations was 12.65 crore. EBITDA margin reached 6.11 percent, which was 3.48 percent by March 2020. Conso revenue growth has been 45.9 percent in FY20. However, during this time the company incurred a loss of about 27 crores. Whereas in FY 2019, the company was profitable.
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