Ace investor Rakesh Jhunjhunwala-backed Nazara Technologies is likely to finalise allotment of its shares today. The share of India-based gaming and sports media platform is likely to be listed on March 30, 2021. The allotment of shares today will leave many investors disappointed since the initial public offer (IPO) was subscribed 175.46 times on the last day. For 29.20 lakh equity shares available, the share sale received bids for 51.20 crore equity shares.
Retail investors submitted bids 74.35 times the reserved portion, while that of non-institutional investors was subscribed 389.89 times. Employees portion was booked 7.36 times. The company will allot 20,181 shares worth Rs 2 crore to its employees. The firm is known for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series.
The three-day IPO of the firm was launched on March 17. Nazara Technologies planned to raise Rs 582 crore through offer for sale (OFS) of up to 5,294,392 equity shares. Price band for the share sale was fixed at Rs 1,100-1,101 per share. The lot size for the IPO was 13 shares and in multiples thereof.
Equity shares of Nazara Technologies will be listed on BSE and NSE. On March 16, the firm raised a little over Rs 261 crore from anchor investors ahead of its initial public offer. The company’s initial public offer (IPO) committee decided to allocate 23,73,395 shares to 43 anchor investors at Rs 1,101 per piece.
On March 18, the second day of IPO, the issue was subscribed 10.55 times. The share sale received bids for 3.08 crore equity shares against the IPO size of 29.20 lakh equity shares. On the first day, the share sale was subscribed 4.01 times. The issue received bids for 1.17 crore equity shares against the IPO size of 29.20 lakh equity shares. Here’s a step-by-step look at how you can check allotment status for Nazara Technologies IPO.