Nazara Technologies Pvt. Ltd. is a private India based company. It develops mobile content like games, themes and wallpapers. The company has its headquarters in Maharashtra, India. The Tech company had their Rs. 583 crore IPO sold between 17th to 19th of March this year. Their IPO got subscription of 176 times which makes it the third biggest for 200 crore issue size.
The part reserved for retail investors was 75 times and for QIB (Qualified Institutional bidders) it was 104 times.
As per the stereotype not many companies shine in their debut trade but Nazara Technologies didn’t fail to surprise.
According to experts despite their losses in the market, there’s was a bet to make. Because they could find good market opportunities and be a success if long term is taken into vision.
Nazara Technologies makes it to the profitable half in Jhunjhunwala’s bets
The representation for Nazara’s investors can be given by Rakesh Jhunjhunwala whenever asked to. That is because he has shares worth Rupees 656 crores in the company. Speaking of which, Jhunjhunwala made his 6th largest bid with the game development company.
Jhunjhunwala is an investor, film producer and owner of Rare Enterprises. He is also 38th richest person in India.
At Times Network India Economic Conclave, Rakesh Jhunjhunwala, 60 said that he has made around twenty equity investments in private businesses so far, but half of them turned out to be flop.
Nazara Technologies is a bet that goes with the other half, the better and profitable half. Betting on this tech Co. was going to get him good money because of the growth in mobile sector. Smartphones are making it to the top and that is happening globally. Most investments in the business see the light.
Nazara technologies is first to list in India as a gaming company. On NSE its shares are listed at Rs. 1,990, 80.74% premium over IPO price of Rs. 1,101. On BSE list it lies at Rs. 1,971, 79.02% premium over issue price.
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