Nazara Technologies made a remarkable debut on the stock market this morning. Shares of Nazara Technologies started the day at Rs 1,971 on BSE, a premium of 79.02 percent over the issue price of Rs 1,101. On the NSE, shares listed with a premium of 80 , 74 percent to Rs 1,990.
At 10:10 am, shares of Nazara Technologies were trading at Rs 1,917.75, up 74.18 percent, on BSE. And on the NSE, the shares were trading at Rs 1,913.30, up 73.8 percent.
The public offering was subscribed 175.46 times, according to stock exchange subscription data. The portion reserved for retail investors was subscribed 75.29 times, the portion for non-institutional investors was subscribed 389.89 times and the segment of qualified institutional buyers attracted 103.77 subscriptions.
The company had raised Rs 583 crore through its public offering, which was an offer for sale by shareholders.
Nazara Technologies was incorporated in 1999. It is the first games company to be publicly traded.
Nazara Technologies operates in various segments including subscription businesses, e-sports, gamified early learning and gambling. It is present across India and in global markets such as Africa and North America. Nazara Technologies is backed by investor Rakesh Jhunjhunwala.