Abhishek Securities

  Rakesh Jhunjhunwala-backed  Nazara Technologies  is planning to hit the primary market soon. The Mumbai-based mobile gaming company informed its shareholders about its  IPO  plan in a letter earlier this month. “This is to intimate you that the board of directors of Nazara Technologies, at its meeting held on September 16, 2020 approved the proposal to undertake an initial public offering of the equity shares of Rs 4 each of the company through the book building process and list the shares on one or more recognised stock exchanges in India,” says the letter. ETMarkets.com has seen a copy of the same. The issue may comprise fresh shares and offer for sale of equity shares from existing shareholders. The company will soon file the draft red herring prospectus (DRHP) with markets regulator Sebi. The issue size is yet to be decided, but some traders estimate the IPO price around Rs 950. When contacted, Nazara Technologies declined to comment. Nazara has a ...

Buoyed by a strong growth in its esports and early learning businesses in  India  and the  US ,  Nazara Technologies  aims to clock a revenue of Rs 450-470 crore this fiscal year, a top company executive said. Nazara Technologies CEO Manish Agarwal said the company has been delivering on its stated strategy to grow and dominate in e-sports, virtual sports and early learning verticals. He added that the company has become India's largest non-real money gaming company with global distribution pipelines. "Nazara's initiatives of developing own gaming and esports IPs and distribute them across platforms and the efforts to build capability and capacity to create highly engaging content IPs in last two years are yielding positive results," he said. Agarwal added that the company had clocked a revenue of Rs 164 crore in 2018-19 , which increased to Rs 264 crore in the fiscal year ended March 2020. "We had been growing at a robust rate, but during lockdown we saw furthe...