Synopsis

The issue, which was sold in the Rs 1,100-1,101 price band, received stellar response with 176 times subscription. But market volatilty has cut the premium for the shares in the grey market to Rs 750 from Rs 820, a drop of 9 per cent, but its still healthy over the price band of Rs 1,100-1,101.

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Choice Broking is expecting Nazaras topline to rise 33.8 per cent annually to Rs 593 crore by FY23, based on conservative estimates.

NEW DELHI: Rakesh Jhunjhunwala-backed mobile gaming company Nazara Technologies, whose Rs 583 crore IPO was sold from March 17 to March 19, will finalise share allotment today.

The issue, which was sold in the Rs 1,100-1,101 price band, received stellar response with 176 times subscription. But market volatilityilty has cut the premium for the shares in the grey market to Rs 750 from Rs 820, a drop of 9 per cent, but its still healthy over the price band of Rs 1,100-1,101.

The IPO recorded third highest subscription levels for an issue of over Rs 200 crore size, data suggests.

MTAR Technologies, a Hyderabad-based precision engineering solutions company, saw its initial public offering subscribing over 200 times last month. Mrs Bectors IPO last year was also a big hit, subscribing 199 times. Some of the other 2020 IPOs such as Happiest Mind, Chemcon Speciality Chemicals, Mazagon Dock, and Burger King were subscribed over 150 times.

For Nazara, the HNI quota was subscribed 390 times, the Qualified Institutional Buyer (QIB) quota 104 times and the retail quota 75 times.

Analysts said mobile gaming led by freemium gaming has driven the explosion in growth of the global gaming industry over the past decade. India also continues to benefit from the wave, with gaming likely to become the primary medium of entertainment by exceeding the revenues of the Bollywood by 2023. So far, analysts compared Indian Gaming industry with the Chinese gaming of 2012-13.

Nazara is the only gaming company in India to have rights over IP and assets across grassroot, regional, national and international eSports. The company has market-first positions in India across sports simulation and eSports. Its eSports content business grew by 60 per cent in FY20 and has grown by nine times in the last three years.

Analysts said Nazaras topline could rise 33.8 per cent annually to Rs 593 crore by FY23. They expect Ebitda to expand 11 percentage points to 8.8 per cent (from -2.2 per cent in FY20) and PAT margin to expand 3 percentage points to 2.6 per cent (also negative in FY20) in FY23.

Investors, who had bid for the issue, can check the allotment status on the BSE website:
1) They need to visit HERE
2) Under the issue type, click Equity
3) Under the issue name, select Nazara Technologies Limited under the dropbox
4) Write the application number
5) Add the Pan card ID
6) Click on I am not a Robot and hit search.

You can also check the allotment status of the online portal of Link Intime India Private Ltd, the registrar to the issue. The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications, and carries out the allotment process as per the prospectus.

The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and uploading of refunds, and attending to all investor-related queries after the issue is completed.

On Link Intime India Private Ltd web portal one needs to select:

1) The IPO in the dropbox, whose name will be populated only if the allotment is finalised
2) You may be required to select either one of the three modes: Application number, Client ID or PAN ID
3) Enter the details of the mode you selected in step 2
4) Hit submit.

( Originally published on Mar 24, 2021 )

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