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Nazara Tech’s Trading Day Strategy: High Gray Market Premium; should you buy more or keep after going on sale?
Shares of Nazara Technologies, backed by Rakesh Jhunjhunwala, will be listed on March 30, 2021, following the recently completed IPO. The mobile gaming leader’s public offering was subscribed 176 times and sold in the price range of Rs 1,100 to Rs 1,101 per share. Prior to the stock listing on the stock exchanges, shares of Nazara Technologies were seen quoting a steep gray market premium of Rs 690. The shares reigned at Rs 1,791, up 62.67 percent on the gray market compared to at the issue price. The high gray market premium does not always guarantee quotation gains.
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