Finally, one more IT company, Nazara Technologies gets green signal for IPO from market regulator Sebi.

This is not publically-known name but having a high reputation in IT industries. It gets popularity worldwide after launching the games like World Cricket championship, Motu Patlu series and choota bheem.

As per latest update, on Feb 1, Nazara filed papers to launch an IPP and obtained its “observatios” on 20th April.

FYI, For any company, to launch public issues like Follow-on-public (FPO) and initial public offer (IPO); Sebi’s observations are necessary. The public issue of Nazara technologies will see a sale of 5,543052 shares by the existing shareholders  Mitter infotech and WestBridge Ventures Investment Holdings.

The rationale behind this IPO is that the equity shares will definitely enhance the brand name & provider liquidity to existing shareholders, explained by a company.

Edelweiss Financial Services and ICIC securities will manage the IPO of Nazara Technologies. This IPO will be listed on NSE and BSE.

About Nazara Technologies:

It runs on gaming subscription services to Mobile internet users across the Middle East, Africa, Latin America, South East Asia and the Indian Subcontinent. It provides services across 60 countries.