Nazara Technologies files for IPO, becomes the first Indian gaming company to do so

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Nazara Technologies has filed for an IPO today, will offer 49,65,476 value shares worth Rs 4 each.

Nazara Technologies owns stakes in various gaming and esports companies including NODWIN Gaming, and Halaplay. The Mumbai based company founded by Nitish Mittersain has also invested in Sportskeeda.

Nazara Technologies has filed for an IPO, for the second time after 2018. The organization is offering 49,65,476 value shares worth Rs 4 each.


Nazara technologies files for ipo, becomes the first indian gaming company to do so

According to YourStory sources, the company might have conducted an extraordinary general meeting (EGM) at its registered office in Mumbai on January 19 (today).

With this, Nazara Technologies has become the first Indian gaming startup to file a Draft Red Herring Prospectus (DRHP) with the SEBI, the organization had prior gotten an endorsement from SEBI for its first sale of stock in April 2018.

Nazara Technologies is backed by the 'Big Bull of Dalal Street', Rakesh Jhunjhunwala, and has its presence in various countries in a vast array of interests, including cricket and fantasy gaming.

Nazara technologies files for ipo, becomes the first indian gaming company to do so

In the last two years, Nazara has made a spate of acquisitions across segments, with India's gaming industry taking rapid strides riding on increased digitisation and the availability of affordable internet.

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About Aryan 'Ba3a' Kumar

Wannabe computer scientist. Ba3a covers everything tech.