Nazara Tech IPO share allocation, gray market premium. How to check the status

All eyes are on the share award after Nazara Technologies’ IPO, backed by Rakesh Jhunjhunwala, was subscribed more than 175 times. According to gray market trackers, shares of Nazara Technologies are listed at a premium of around 760. The allotment of the shares should be finalized on March 24 while the listing could take place on March 30, according to the brokerage firms. Link Intime India Private is the registrar of the IPO and once the allocation of shares is finalized, the status of the application can be checked on its website.

The initial public offering was in a price range of 1,100-1,101 per share. Nazara Technologies is a diverse games and sports media platform with a presence in India and in emerging and developed global markets such as Africa and North America, with offerings in interactive games ecosystems, e-sports and gamified early learning.

Rakesh Jhunjhunwala owns more than 10% of the company’s capital. The Nazara Tech’s initial 583 crore public offering, which was open between March 17 and March 19, received bids for 51.25.17,642 shares for 29.20,997 shares on offer, according to NSE data. The portion reserved for qualified institutional buyers (QIB) was subscribed 103.77 times, non-institutional investors 389.89 times and retail retail investors (RII) 75.29 times.

In this issue, 10% is reserved for retail investors, 75% for Qualified Institutional Buyers (QIB) and 15% for HNIs.

Before the IPO, Nazara Technologies had paid off 260 crore from anchor investors.

Many brokerages had recommended subscribing to the show both for long-term potential and the ability to list earnings.

“The company is backed by a strong management team backed by reputable investors. In the upper price range of Rs 1,101, Nazara Tech is available at EV / Sales of 8.5x based on H1FY21 (annualized figures) which is on the higher side. But this premium valuation is supported by the great scalability of new digital businesses. The company will also benefit from limited competition from domestic players and strong support from a booming Indian games market. . in the medium term, ”domestic broker Geojit said in a note.

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