Nazara Technologies has filed a Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO). The listing of equity shares will enhance the company’s brand name and provide liquidity to the existing shareholders.
The company’s public issue will see sale of 5,543,052 equity shares by the existing shareholders -- WestBridge Ventures Investment Holdings and Mitter Infotech.
ICICI Securities and Edelweiss Financial Services will manage the company’s IPO. The equity shares are proposed to be listed on BSE and NSE.
Nazara Technologies runs mobile gaming subscription services to mass mobile internet users comprising largely of first time mobile gamers across Africa, Middle East, South East Asia, Latin America and the Indian subcontinent. At present, it has operations in over 60 countries across emerging markets. The company is popularly known for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series.
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