30 Mar , 2021 By : Kanchan Joshi
Nazara Technologies made a strong debut on exchanges today. On BSE, shares jumped to Rs1918 as compared to issue price of Rs1,101. The initial public offer (IPO) Nazara Technologies was subscribed over 175 times. The gaming company, which is backed by ace investor Rakesh Jhunjhunwala, had offered shares in a price range of Rs1,100-1,101 per share. Ahead of the IPO, Nazara Technologies had raised Rs261 crore from anchor investors.
The broader Mumbai market was also firm today with Sensex up nearly 700 points.
The retail individual investors (RIIs) segment was subscribed 75.29 times while the portion reserved for qualified institutional buyers (QIBs) was subscribed 103.77 times and non institutional investors 389.89 times. 10% of the issue was reserved for retail investors, 75% for qualified institutional buyers (QIB) and 15% for HNIs.
Global liquidity and a bull run in domestic equity market helped Indian companies raise over Rs31,000 crore through initial share-sale in the ongoing fiscal year, marking the highest fund-raising through IPOs in last three years. And the pipeline remains strong for the next fiscal.
30 firms raised Rs31,277 crore through initial public offerings (IPOs) in 2020-21, significantly higher than Rs20,352 crore mopped up through 13 initial share-sales in the preceding fiscal year.
Many brokerages had recommended subscribe to the issue both for long term potential and possibility of listing gains.
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