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Rakesh Jhunjhunwala-backed Nazara Technologies IPO subscribed 7.33 times on Day 2 of bidding

The initial public offering (IPO) of ace investor Rakesh Jhunjhunwala-backed Nazara Technologies
continues to see a strong response, as the public issue was subscribed 7.33 times by the morning of
March 18, the second day of bidding. The IPO closes for subscription on March 19.
The issue has received bids for 2.14 crore equity shares against an offer size of 29.20 lakh equity shares,
the subscription data on exchanges showed.
Non-institutional investors have put in bids 5.89 times more than their reserved portion, while the
portion set aside for retail investors has seen a massive 30.56 times subscription and that of employees
is subscribed 3.06 times.
The company has reserved 20,181 equity shares for its employees valued at nearly Rs 2 crore at a
discounted price of Rs 991 per share. The company may offer shares to employees at a discount of Rs
110 per share.
Nazara Technologies, an India-based gaming and sports media platform, is planning to garner around Rs
583 crore through the issue, which is a complete offer for sale. The price band for the offer has been
fixed at Rs 1,100-1,101 per share.

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