Rakesh Jhunjhunwala Backed IPO Becomes India’s 2nd Most Subscribed IPO In 2021

Riding high on the wave of optimism in 2021, Rs 583-crore initial public offering of Nazara Technologies’ has replaced Easy Trip Planners to become the nation’s second-most subscribed issue so far.

With its offerings such as interactive gaming, eSports and gamified early learning ecosystems, Nazara Technologies is a diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America.

According to data available on exchanges, the IPO of Nazara Technologies, led by non-institutional investors who bid 389.89 times the shares on offer, was subscribed 175.46 times at 5 p.m. on March 19. The institutional investors who were hesitant during the first two days lapped up shares on the final day.

Subscription details:

Institutional investors: 103.77 times

Non-institutional Investors: 389.89 times

Retail investors: 75.29 times

Employee:7.55times.

IPOs So Far in 2021

Subscription In (x)

Issue

MTAR Technologies 200.79

Nazara Technologies 175.46

Easy Trip Planners 160.18

Indigo Paints 117

Laxmi Organic Industries 106.74

Heranba Industries 83.3

Anupam Rasayan 45.21

RailTel Corporation 42.39

Nureca 39.9

Home First Finance 26.65

Stove Kraft 18.03

Brookfield REIT 7.97

Craftsman Automation 3.8

IRFC 3.49

Kalyan Jewellers 2.64

Suryoday Small Finance Bank 2.37

Compared to 52.94 lakh shares on offer at Rs 1,100-1,101 apiece, the eighteenth issue to go public so far this year has received bids for 92.88 crore shares.

Various stakeholders of the company encashed whole or part of their stake through the initial share sale of the company. The company is also India’s only gaming firm with a presence in emerging and developed markets such as African and North American countries. ICICI Securities, IIFL Securities, Jefferies India and Nomura Financial were book-running lead managers.