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Rakesh Jhunjhunwala-backed Nazara Technologies debuts at Rs 1,990 per share at a premium of 80.74%

Rakesh Jhunjhunwala-backed Nazara Technologies debuts at Rs 1,990 per share at a premium of 80.74%
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Rakesh Jhunjhunwala-backed Nazara Technologies debuts at Rs 1,990 per share at a premium of 80.74%

Rakesh Jhunjhunwala-backed Nazara Technologies debuts at Rs 1,990 per share at a premium of 80.74%

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The cellular firm listed its shares at Rs 1,990 on Nationwide Inventory Alternate over the problem worth of Rs 1,101.

Shares of Nazara Technologies opened at an 80.74 p.c premium on Tuesday, 30 March. The cellular firm backed by Rakesh Jhunjhunwala listed its shares at Rs 1,990 on Nationwide Inventory Alternate over the problem worth of Rs 1,101.

On BSE, it listed at Rs 1,971 a 79.02 p.c markup.

As per Moneycontrol, the IPO was subscribed 175.46 occasions, which is the third largest for an IPO, having a difficulty measurement of over Rs 200 crore.

By way of a proposal on the market, Nazara Technologies raised Rs 583 crore between 17 to 19 March from the general public problem.

At 10:02 am, the inventory was buying and selling at Rs 1,913.30 on NSE and Rs 1,917.75 on BSE. On NSE, its quantity was 18.09 lakh fairness shares with a rise of 73.8 per cent. The inventory was buying and selling with 74.18 p.c improve at the BSE with a quantity of 1.53 lakh fairness shares.

HNIs positioned bids for 390 occasions their quota restrict. Certified institutional bidders subscribed the problem 104 occasions whereas retail traders subscribed to it 75 occasions.

In accordance with The Financial Occasions, Rakesh Jhunjhunwala holds 10.82 p.c stake within the firm which is value Rs 656 crore. In 2008, Rakesh had invested Rs 180 crore in Nazara Technologies.

The analysts had anticipated a 50-67 p.c itemizing premium, reported Moneycontrol.

The corporate is a main sports activities and gaming media platform which provides interactive gaming. In FY20, the eSports content material enterprise for Nazara elevated by 60 p.c.

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