Home News Rakesh Jhunjhunwala Backed Nazara Technologies Becomes first Indian Gaming Company to File...

Rakesh Jhunjhunwala Backed Nazara Technologies Becomes first Indian Gaming Company to File for IPO

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Nazara Technologies

Nazara Technologies Ltd is a gaming firm supported by the stock market big bull Rakesh Jhunjhunwala, turned into the main Indian gaming innovation company to make sure to entry in stock market.

The Mumbai-based startup recorded first sale of stock reports with India’s market controller on January 14.

The public issue will see an offer of 49,65,476 value shares by promoters and investors.

Established in 2000, by Nitish Mittersain, Nazara is one of the biggest intuitive gaming and sports media company in India.

The company is known for its games in World Cricket Championship and Chhota Bheem and Motu Patlu game series. Its auxiliary Nodwin Gaming has different gaming event across the India.

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It has activities in more than 60 nations across developing business sectors including India, Africa, the Middle East, South East Asia, and Latin America.

The organization’s foundation has a few substance classes and is dynamic in esports while instructing a portion of the versatile cricket gaming fragment with titles like World Cricket Championship.

Other than Jhujhunwala, Plutus Wealth Management, IIFL Special Opportunities Fund, Turtle Entertainment are other key speculators. Recently, Plutus Wealth Management LLP and its partners procured shares worth over Rs 500 crore of the organization from WestBridge.

ICICI Securities, IIFL Securities, Jefferies India and Nomura Financial Advisory and Securities India are the book running lead chiefs to the issue.

India’s gaming area had a market estimation of around Rs 6,200 crore in 2019 and was probably going to develop to more than Rs 25,000 crore by 2024 while the quantity of individuals utilized in the area is required to be more than 40,000, as indicated by Statista.

Then again, portable gaming’s reasonable worth was relied upon to hit around Rs 2965.4 crore market by 2022 while the quantity of smartphone gamers in India was foreseen to be roughly 62.8 crores by 2020.

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