Nazara Technologies' initial public offering will open from March 17-19, at an issue price of Rs 1100-1101 per share. The IPO comprises an offer for sale of up to 5.29 million equity shares by promoters and shareholders, the company announced today. The promoter holdings will stand at 21.6% post IPO. A month ago, Nazara had raised Rs. 100 crore from Instant Growth Limited, which is advised by Hornbill Capital Advisers LLP, an investment vehicle of North America based limited partners of Hornbill Orchid India Fund. Nazara had filed a draft red herring prospectus with SEBI in January. Founded in 2000 by Nitish Mittersain, Nazara operates in e-sports gaming and content, mobile gaming, and has recently entered gamified learning and real-money gaming, including fantasy sports gaming. Its operations are spread across India, South Asia, North America, and Africa. Key operational metrics Nazara Average MAUs: 49.25 million, 22.6% growth from FY20 Nodwin registered users: 6.9 million, with over 80% market share eSports Media Average MAUs: 29.43 million, 65.4% growth from FY20 Gamified e-Learning Paid subscribers: 290,508 [caption id="attachment_132038" align="aligncenter" width="486"] From Nazara's presentation on Friday[/caption] Revenue breakup in H1FY21 E-sports: 31.78% Gamified Early Learning: 39.24% Freemium: 4.50% Skill-based, fantasy, real money gaming: 3.14% Telecom subscription: 21.33% The impact of the COVID-19 pandemic on Nazara's business was two-fold: it accelerated gaming uptake worldwide, resulting in many first-time gamers who had been sitting on the fence. In any case, interactive social gaming is a secular trend despite COVID-19. At the same time, though some parts of…
