Rakesh Jhunjhunwala-backed Nazara Technologies IPO opens on March 17: GMP robust, traders eye bumper itemizing

Image Source : PTI (FILE)/ CORP.NAZARA.COM Rakesh Jhunjhunwala-backed Nazara Technologies IPO opens on March 17
The much-awaited IPO of Rakesh Jhunjhunwala-backed Nazara Technologies will open for subscription subsequent week. Nazara Technologies is a gaming agency. It is popularly identified for its video games on World Cricket Championship, Chhota Bheem and Motu Patlu collection.
Nazara Technologies’ IPO will open on March 17. The firm has fastened a worth band of Rs 1,100-1,101 a share for the difficulty. The public difficulty will conclude on March 19. The firm has fastened Rs 4 because the face worth per fairness share.
The firm seems to boost Rs 583 crore within the upcoming public difficulty. An investor can place bids for no less than 13 fairness shares and multiples thereafter, translating to a minimal funding of Rs 14,313 per investor.
A portion of the difficulty may even be reserved for the agency’s staff who will probably be eligible for a reduction of Rs 110 per fairness share. The firm has reserved 75% of the difficulty for Qualified Institutional Buyers (QIB) whereas 15% for Non-Institutional Investors and solely 10% for retail traders.

Nazara Technologies stated that bidding for anchor traders will open on March 16.
The preliminary public providing will solely be a proposal on the market (OFS) by present shareholders, and could have no contemporary difficulty of fairness shares. Those promoting shares within the IPO embrace Mitter Infotech LLP, a promoter of the corporate, IIFL Special Opportunities Fund, Good Game Investment Trust, IndexArb Securities and Azimuth Investments. Ace traders Rakesh Jhunjhunwala, who owns a ten.82% stake within the firm, doesn’t look to promote his stake.
Nazara Technologies’ public difficulty will see sale of 52,94,392 fairness shares by the promoters and present shareholders.
Nazara Technologies GMP
The fairness shares of Nazara Technologies are proposed to be listed on BSE and NSE on March 30. 
The unlisted share of Nazara Technologies have been commanding a robust premium within the gray market. Its shares had been buying and selling at Rs 1,060 apiece even earlier than the value and date of the IPO had been introduced. Currently, shares of Nazara Technologies are commanding a premium of Rs 620 per share.
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