Nazara Technologies IPO Subscribed 10.55 Times On Second Day Of Issue

Nazara Technologies IPO: The country's first gaming company backed by Rakesh Jhunjhunwala is selling shares in the price band of Rs 1,100 - Rs 1,101 per share.

Nazara Technologies share sale via the ongoing share sale via initial public offering (IPO) was subscribed 10.55 times on the second day of the issue, according to subscription data on the exchanges. The Rakesh Jhunjhunwala-backed gaming company's IPO was fully subscribed within hours of opening on Wednesday, March 17. Retail investors showed greater interest in the IPO as the portion reserved for them was subscribed 44.47 times on March 18 by 5:00 pm. The portion set aside for non-institutional buyers was subscribed 7.73 times, while the portion reserved for qualified institutional buyers was subscribed 0.72 times. (Also Read: India's First Gaming Firm's IPO Fully Subscribed Within Hours Of Opening )Nazara Technologies is the country's first gaming company to get listed on the stock exchanges. The company is selling shares in the price band of Rs 1,100 - Rs 1,101 per share. Nazara Technologies' ₹ 582.91 crore IPO opened for subscription on March 17 and will close on Friday, March 19, remaining open for investors for a period of three days. What Analysts Say: "The company has been reporting losses over the last 18 months, and hence, it has a negative P/E ratio. That said, the company is valued at ~13 times Enterprise Value /Sales based on FY20 data.