Nazara Technologies in its market debut today (March 30) listed at an 81 percent premium at Rs. 1990 in comparison to its issue price of Rs. 1101. Last the stock traded higher by 53% at Rs. 1690 per share and hit a day's high price of Rs. 2024.90.
This is the first gaming company to make its way to the Indian bourses and is backed by ace investor Rakesh Jhunjhunwala. The issue received whopping subscription of 175 times.
The gaming and sports media platform has its presence in other nations too including North America, Africa and the Middle East. And its product portfolio includes solutions in the area of interactive gaming, gamified early learning ecosystems such as World Cricket Championship & Carrom Clash in mobile games, Nodwin & Sportskeeda in eSports and eSports media, and Qunami and Halaplay in skill-based, trivia games.
Several of the brokerages gave a thumbs up to the issue of Nazara Technologies as they were of the view that gaming industry is set to see more than 30 percent CAGR over 2020-2023E due to increased mobile penetration, penetration of internet and increase in the number of gaming enthusiasts.