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Nazara Tech IPO opens on March 17; price band fixed at ₹1,100-₹1,101 per share

Nazara Technologies, a leading India-based diversified gaming and sports media platform, will open the initial public offer of equity shares of face value of Rs 4 each on March 17, 2021. The offer will close on March 19, 2021. The price band of the offer has been fixed at Rs 1,100 to Rs 1,101 per Equity Share.  

Nazara Technologies has presence in India and across emerging and developed global markets such as Africa and North America, and offerings across the interactive gaming, eSports and gamified early learning ecosystems, including World Cricket Championship (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 offer comprises initial public offering of up to 5,294,392 equity shares of face value of Rs 4 each of Nazara Technologies through an offer for sale of by the selling shareholders, comprising of up to 1,267,435 equity shares by IIFL Special Opportunities Fund, up to 1,036,286 equity shares by IIFL Special Opportunities Fund - Series 4, up to 873,989 equity shares by IIFL Special Opportunities Fund - Series 5, up to 816,804 equity shares by IIFL Special Opportunities Fund - Series 2, up to 691,900 equity shares by Mitter Infotech LLP (the “Promoter Selling Shareholder”), up to 393,349 equity shares by IIFL Special Opportunities Fund - Series 3, (IIFL Special Opportunities Fund, IIFL Special Opportunities Fund - Series 4, IIFL Special Opportunities Fund - Series 5, IIFL Special Opportunities Fund - Series 2 and IIFL Special Opportunities Fund - Series 3 together, referred to as the “Investor Selling Shareholders”), up to 150,000 equity shares by Good Game Investment Trust, up to 25,000 equity shares by Seedfund 2 International, up to 23,725 equity shares by Porush Jain, up to 14,959 equity shares by Azimuth Investments Limited and up to 945 equity shares by Seedfund 2 India (Good Game Investment Trust, Seedfund 2 International, Porush Jain, Azimuth Investments Limited and Seedfund 2 India together, referred to as the “Other Selling Shareholders, and together with the Promoter Selling Shareholder and the Investor Selling Shareholders, referred to as the “Selling Shareholders”).

This offer includes a reservation aggregating up to Rs 20 million for purchase by eligible employees (the “Employee Reservation Portion”). The offer less the employee reservation portion is hereinafter referred to as the “Net Offer”. The Company, the Promoter Selling Shareholder and the Investor Selling Shareholders in consultation with the BRLMs, may offer a discount of up to 10.00% to the Offer Price (Rs 110 per share) to Eligible Employees Bidding in the Employee Reservation Portion (“Employee Discount”).

Bids can be made for a minimum of 13 Equity Shares and in multiples of 13 Equity Shares thereafter.

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