Connect with us


Trending News

Rakesh Jhunjhunwala Backed Nazara Tech Raises Rs 100 cr ahead of IPO; check the unquoted market share price




Watch and Download Movies Online
Watch and Download Movies Online

Watch and Download Movies Online

Nazara Technologies will be listed as the first of its kind in the Indian stock market

Gaming company backed by Rakesh Jhunjhunwala Nazara Technologies Ltd raised Rs 100 crore in funding from Instant Growth Ltd (IGL) weeks after the company filed preliminary papers with capital market regulator Sebi to allow an initial public offering (IPO). The company is popularly known for its games on the World Cricket Championship, Chhota Bheem and Motu Patlu series. According to PTI, Nazara will invest the proceeds in forging alliances and acquisitions to further strengthen its position in the gaming ecosystem and strengthen its gamified learning offering. Ranjit Jha, CEO, Rurash Financial Pvt Ltd told Financial Express Online that the shares have traded approximately Rs 1,060 each on the unofficial unlisted stock market.

First gaming company to be on the list

For the six months ended September 30, 2020, Nazara Technologies reported a profit of Rs 10.1 crore, while in the financial year 2020 it posted a profit of Rs 26.6 crore. Jha added that Nazara Technologies will be the first of its kind to be listed in the Indian stock market. This can cause excitement among the fair participants. “This gaming company is currently at a loss as a result of its aggressive acquisition strategy to date, which has led to diversification in the gaming world,” said Jha.

According to the red herring (DRHP) draft prospectus, the Nazara Technologies issue will generate a sale of 49.65 lakh shares by the promoters and existing shareholders. It is proposed to list the shares on BSE and NSE. ICICI Securities, Nomura Financial Advisory and Securities (India) Private Limited, Jefferies India Private Limited and IIFL Effects are book running lead managers for the problem.

Abhay Doshi, founder of UnlistedArena.com – trades pre-IPO and unlisted stocks – told Financial Express Online that in less than a year even before the IPO, the stock has delivered more than 100 percent returns to unlisted investors. shares. The tech startups are the flavor of the decade in India and the global markets. “Companies with next-generation business models receive excellent ratings. The presence of major investors in Nazara adds to the fantasy, ”said Doshi. In recent years, the company has invested significantly in the gaming ecosystem, which is considered one of the most exciting spaces of the next decade.

What to Expect From Nazara Technologies IPO

The mobile gaming industry is a huge market in India with strong growth rates enabled by high smartphone penetration and lower internet costs, said AR Ramachandran, Tips2Trade Co-Founder and Trainer. “With the current positive sentiment and the IPO frenzy, Nazara Technologies could be a good bet for investors in the short term for listing,” Ramachandran told Financial Express Online.

Watch and Download Movies Online

Ranjit Jha sees a turnaround in Nazara Technologies. The company is poised to do well in the medium to long term. There is also an option to buy out the company through a global technology gaming company. “Indian investors can thus expect good returns from Nazara Technologies in the coming years, with a minimum return of 15 percent of the expected issue price (Rs 1050-1070),” said Jha.

Nazara owns IPs including WCC and CarromClash in mobile games, Kiddopia in gamified early learning, NODWIN and Sportskeeda in esports and esports media, and Halaplay and Qunami in skill-based, fantasy, and trivia games.

(The stock recommendations in this story come from the respective research and brokerage firms. Financial Express Online is not responsible for their investment advice. Consult your investment advisor before investing.)

Go live Stock quotes from BSE NSE American market and last NAV, portfolio of Investment funds, Check out the latest IPO News Best performing IPOs, calculate your tax Income tax calculator, know the market Top risers Top losers Best Equity FundsLike us on Facebook and follow us further Twitter

Financial Express is now on Telegram. Click here to join our channel and stay up to date with the latest Biz news and updates.

Watch and Download Movies Online

Click to comment

Leave a Reply

Your email address will not be published.