It seems like the second time’s a charm for Nazara Technologies.
For a few months now, the Mumbai-based gaming company has been gearing for an initial public offering. The draft red herring prospectus—the initial registration for an IPO—has been filed. The equity shares are proposed to be listed on BSE and the National Stock Exchange. Nazara’s lead managers on the issue include ICICI Securities, IIFL Securities, Nomura Financial Advisory & Securities (India) and Jefferies India. According to a person aware of the developments, Nazara has already received in-principle approval from the Securities and Exchange Board of India, and in a matter of just a few weeks now, the company will go public.
It has been a long wait for the company, though. For one, unlike many in the gaming sector who have built their businesses on the back of the explosion of cheap internet plans in recent years, Nazara has been around for more than two decades. Founded in the year 2000,