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Gaming firm Nazara Technologies files preliminary papers with SEBI to float IPO

19 Jan 2021 Evaluate

Gaming firm Nazara Technologies has filed preliminary papers with capital markets regulator -- Securities and Exchange Board of India (SEBI) to float an initial public offering (IPO). The company is popularly known for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series. According to draft red herring prospectus (DRHP), Nazara's public issue will see a sale of 49,65,476 equity shares by the promoters and existing shareholders.

Those selling shares in the IPO include Mitter Infotech LLP - a promoter of the company, IIFL Special Opportunities Fund, Good Game Investment Trust, IndexArb Securities and Azimuth Investments. ICICI Securities, Nomura Financial Advisory and Securities (India), Jefferies India and IIFL Securities are book running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE.

Nazara Technologies was founded in 1999 by Nitish Mittersain, who is the Joint Managing Director of the firm. The company said that listing of equity shares will enhance its brand name and provide liquidity to the existing shareholders. The listing will also provide a public market for equity shares in India.

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