News > Nazara IPO subscribed over 3.8 times on Day 1

Nazara IPO subscribed over 3.8 times on Day 1

17/03/2021 07:52 PM | Click to read full article

Nazara Technologies, a mobile gaming company backed by ace investor Rakesh Jhunjhunwala, was subscribed 3.8 times on Day 1 of the bidding process.

Nazara is the only company in India to have rights over IP and assets across grassroots, regional, national and international e-sports. The company has market-first positions in India across sports simulation and e-sports. The IPO is a play on India's under-penetrated gaming and global gamified early learning markets, which are expected to grow at an annual pace of 30-40 per cent over 2020-2023.