Gaming Player Nazara Set for Rs 1000 Cr IPO | CORPORATE ETHOS

Gaming Player Nazara Set for Rs 1000 Cr IPO

By: | September 11, 2017
Nazara

Sep 11: Gaming industry major Nazara Technologies, the company behind the immensely popular Chhota Bheem game, is all set to hit the market with a Rs 1000 crore IPO.

The listing is likely to take place by the end of March 2018, said reports. IN the run up to the stock market listing, Nazara has roped in ICICI Securities and Edelweiss Financial Services to process the initial public offering.

According to the reports, Nazara is likely to be valued at around Rs 3,000-3,500 crore. This could give its investor WestBridge Capital a partial exit and possibly 75-80 times return on its 12-year-old bet, it is said.

WestBridge Capital had pumped in $3 million in two tranches in 2005 and 2007 into Nazara, and currently holds around 55 per cent stake. The remaining shares are owned by Mittersain.

Nazara boasts presence in over 74 countries and has roped in celebrities of the likes of Hrithik Roshan, Rohit Sharma and Virat Kohli for its games.