Nazara Technologies IPO
Nazara Technologies Limited (NAZARA) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 30 March 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +53.2% (likely range +35% to +138%), day's high +65.6%, chance of a gain 97%. Actual: +80.7% at the open, +83.9% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 15,82,264 | 16,41,96,370 | 104x | |
| NII (HNI) total | 7,91,131 | 30,84,57,006 | 390x | |
| Retail | 5,27,421 | 3,97,11,945 | 75.3x | |
| Employees | 20,181 | 1,52,321 | 7.55x | |
| Total | 29,20,997 | 51,25,17,642 | 175x |
Bids on NSE and BSE together, as published by NSE, as of 19 Mar 2021, 05:00 PM. Shares offered exclude the anchor portion. 6% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Nazara Technologies's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Burger King IndiaDec 2020 | 86.6x | 354x | 68.2x | 157x | ₹811 Cr | +87.5% | +125.0% |
| Easy Trip PlannersMar 2021 | 77.5x | 382x | 70.4x | 159x | ₹513 Cr | +13.5% | +25.1% |
| Happiest Minds TechnologiesSep 2020 | 77.4x | 351x | 70.9x | 151x | ₹702 Cr | +110.8% | +137.9% |
| Ujjivan Small Finance BankDec 2019 | 111x | 473x | 49.1x | 166x | ₹771 Cr | +58.8% | +69.7% |
| Chemcon Speciality ChemicalsSep 2020 | 114x | 449x | 41.2x | 149x | ₹318 Cr | +115.0% | +115.1% |
| Mazagon Dock ShipbuildersOct 2020 | 89.7x | 679x | 35.6x | 157x | ₹773 Cr | +48.2% | +49.6% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| ICICI Securities | 109 | +21.3% | 69% |
| IIFL Securities | 94 | +19.3% | 71% |
| Jefferies India | 26 | +19.5% | 81% |
| Nomura Financial Advisory and Securities (India) | 27 | +16.0% | 56% |
Offer documents (NSE)
Frequently asked
What is the Nazara Technologies IPO price band and lot size? ₹1,100–1,101 per share, with a lot of 13 shares, so the smallest retail bid is ₹14,313.
How many times has it been subscribed? 175x overall: QIB 104x, NII 390x, retail 75.3x, employees 7.55x.
How did it list? It opened at ₹1,990, +80.7% against the issue price of ₹1,101, and closed its first day +44.6%.
