Global gaming and media sports company Nazara Technologies has filed a draft red herring prospectus (DRHP) on January 14 with market regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).
The veteran
investor Rakesh Jhunjhunwala-backed company had earlier received approval from
SEBI for its initial public offering in April 2018. However, it was yet to file
its DRHP.
The IPO will
make Nazara the first Indian gaming company to enlist in the market. As per the
DRHP filed by Nazara, the company will offer 49,65,476 equity shares for
sale by promoters and investors with a face value of Rs 4.
At the beginning
of January, financial and wealth advisor Plutus Wealth Management LLP
had bought shares
in Nazara worth Rs
500 crore from WestBridge Capital.
Founded in 2000
by Nitish Mittersain, Nazara has asserted itself in the interactive gaming and
sports sector through investments and acquisitions in various gaming categories
including esports, edutainment, infotainment, fantasy sports, multiplayer games
like carrom and mobile cricket games, etc. Over the last two decades, Nazara has
also expanded globally to 74 countries across Asia, Africa and the Middle
East.
In 2019, Nazara
had invested in PaperBoat App,
Absolute Sports, Crimzocode Education Private limited and fantasy sports
platform Halaplay Technologies.
In 2020, the gaming and sports company became a majority stakeholder in PaperBoat App and Halaplay Technologies.
