Rakesh Jhunjhunwala-backed Nazara Applied sciences debuts at Rs 1,990 per share at a premium of 80.74%

Rakesh Jhunjhunwala-backed Nazara Applied sciences debuts at Rs 1,990 per share at a premium of 80.74%

The cell firm listed its shares at Rs 1,990 on Nationwide Inventory Alternate over the difficulty value of Rs 1,101.

Shares of Nazara Applied sciences opened at an 80.74 p.c premium on Tuesday, 30 March. The cell firm backed by Rakesh Jhunjhunwala listed its shares at Rs 1,990 on Nationwide Inventory Alternate over the difficulty value of Rs 1,101.

On BSE, it listed at Rs 1,971 a 79.02 p.c markup.

As per Moneycontrol, the IPO was subscribed 175.46 instances, which is the third largest for an IPO, having a difficulty measurement of over Rs 200 crore.

By a proposal on the market, Nazara Applied sciences raised Rs 583 crore between 17 to 19 March from the general public situation.

At 10:02 am, the inventory was buying and selling at Rs 1,913.30 on NSE and Rs 1,917.75 on BSE. On NSE, its quantity was 18.09 lakh fairness shares with a rise of 73.8 per cent. The inventory was buying and selling with 74.18 p.c enhance on the BSE with a quantity of 1.53 lakh fairness shares.

HNIs positioned bids for 390 instances their quota restrict. Certified institutional bidders subscribed the difficulty 104 instances whereas retail traders subscribed to it 75 instances.

Based on The Financial Occasions, Rakesh Jhunjhunwala holds 10.82 p.c stake within the firm which is price Rs 656 crore. In 2008, Rakesh had invested Rs 180 crore in Nazara Applied sciences.

The analysts had anticipated a 50-67 p.c itemizing premium, reported Moneycontrol.

The corporate is a number one sports activities and gaming media platform which gives interactive gaming. In FY20, the eSports content material enterprise for Nazara elevated by 60 p.c.

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