MUMBAI: Nazara Technologies has become the first Indian gaming technology company to seek a market debut, having filed initial public offering documents with the market regulators on Friday.
The leading India-based diversified gaming and sports media platform, backed by billionaire investor Rakesh Jhunjhunwala, refiled the draft red herring prospectus with the capital market regulator SEBI for its IPO on January 14.
The public issue is a complete offer for sale of 49,65,476 equity shares by promoters and investors, Moneycontrol reports. The company had received approval from SEBI for its initial public offering in 2018.
Besides Jhujhunwala, Plutus Wealth Management, IIFL Special Opportunities Fund, Turtle Entertainment Gmbh, Seedfund2 International are other key investors. Earlier this month, Plutus Wealth Management LLP and its associates acquired shares worth over Rs 5 billion of the company from WestBridge, according to Livemint .
As per MoneyControl, IIFL had invested Rs 3.27 billion in November 2017 and Jhunjhunwala Rs 1.82 billion in December 2017, while Nazara’s promoters Vikash Mittersain, Nitish Mittersain and Mitter Infotech LLP have invested around Rs 3 billion in the last five years.
Founded in 2000, Nazara Technologies is a leading India-based diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, eSports and gamified early learning ecosystems.
The company owns some of the most recognisable IP, including World Cricket Championship and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin and Sportskeeda in eSports and eSports media, and Halaplay Technologies Private Limited (Halaplay) and Qunami in skill-based, fantasy and trivia games. Nazara was among the first entrants in the Indian market in eSports (through Nodwin) and cricket simulation (through Nextwave).
ICICI Securities, IIFL Securities, Jefferies India and Nomura Financial Advisory and Securities India are the book running lead managers to the issue.
