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The stock of Nazara Technologies on Tuesday rewarded IPO investors on the listing day. The gaming company stock listed at ₹1,971 as against issue the price of ₹1,101 and rose further to ₹2,026.90 on the BSE. The stock is currently ruling at ₹1,778.35.
Rakesh Jhunjhunwala-backed Nazara Technoligies had offered shares in a price range of ₹1,100-1,101 a share. The issue has been subscribed 175.46 times on Friday. The ₹583-crore IPO of Nazara Tech has received bids for 51.25 crore shares against 29.20 lakh shares on offer as all category of investors poured in money.
Ahead of the IPO, Nazara Technologies had raised ₹261 crore from anchor investors.
The portion for qualified institutional buyers (QIBs) was subscribed 103.77 times, non-institutional investors 389.89 times and retail individual investors (RIIs) 75.29 times. Even the employee portion of the gaming company received bids for 7.55 times.
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