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Home / Markets / Stock Markets /  Nazara Technologies closes at 45% premium over IPO price

Mumbai: Shares of gaming company Nazara Technologies Ltd, which listed on the exchanges on Tuesday, closed at a 44.6% premium over its issue price of 1101 apiece. Its initial public offer was subscribed over 175.46 times.

The scrip settled at 1,592 on the National Stock Exchange after touching a high of 2024.90 and a low 1592.

Nazara Tech's debut performance bucked the trend seen on exchanges last week. Shares of Anupam Rasayan, Laxmi Organic, Suryoday Small Finance Bank and Kalyan Jewellers India made tepid stock markets debut last week.

The IPO of the mobile gaming company got a good response, with the 583-crore offer being subscribed 175.46 times, the second-highest for 2021 after MTAR Technologies that was subscribed 200.79 times.

Non-institutional investors and qualified institutional buyers portions were subscribed 389.89 times and 103.77 times. The portion set aside for retail investors was subscribed 75.29 times and that of employees 7.55 times.

"Nazara Technologies is present in the fast growing segment of interactive gaming, eSports and gamified early learning solutions. After posting a de-growth of 1.4% in FY2019 the company has posted strong revenue growth of 45.9% in FY2020 to 247.5 crore. The company has already posted a revenue of 200 crore in H1FY2021," said Angel Broking in a note to its investors.

Nazara Technologies is a leading India-based diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America.

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