Gaming company Nazara Tech filed application for IPO with SEBI

 Gaming company Najara Technologies has submitted documents to the market regulator Securities and Exchange Board of India (SEBI) for the initial public offering (IPO). The company is backed by renowned investor Rakesh Jhunjhunwala. The company is popular for its games of the World Cricket Championship, Chhota Bheem and Motu Patlu series. According to the draft IPO document, the promoters and existing shareholders in Najara Tech's IPO will sell 49,65,476 equity shares. Promoters of the IPO include Miter Infotech LLP, IIFL Special Opportunities Fund, Good Game Investment Trust, Indexurb Securities and Azimuth Investments.

Nazara Tech was founded in 1999 by Nitish Makattisain. He is the joint managing director of the company. The company said the listing of equity shares would increase its brand name and provide cash to existing shareholders. ICICI Securities, Nomura Financial Advisory & Securities (India) Private Limited, Jefferies India Private Limited and IIFL Securities are the managers of the IPO. The company's equity shares are proposed to be listed on BSE and NSE. It had earlier filed preliminary papers with Sebi in February 2018 and received approval to launch an IPO, but the company did not offer an IPO then.

In the year 2020, the IPO market performed much better. At the same time, many big names are coming with IPOs this year. Only this week, investors in IRFC and Indigo Paints are getting the opportunity to invest money. Both are expected to raise Rs 5800 crore from the market through an IPO. The IPO of IRFC has been opened to investors since 18 January. At the same time, the IPO of Indigo Paints will open for subscription on January 20. With this, LIC's IPO may also come this year. new Delhi.