Rakesh Jhunjhunwala-supported Nazara Technology launches at Rs.

The mobile company has listed its shares on the National Share Exchange instead of the issue price of Rs 1,101.

Shares of Nazara Technologies opened at an 80.74 percent premium on Tuesday, March 30th. Supported by Rakesh Jhunjhunwala, the mobile company has listed its shares at Rs 1,999 for the issue price in the national stock market.

It was listed on the BSE at Rs 1,9711 with a markup of .09.02 percent.

According to money control, The IPO has been subscribed 1,175.46 times, making it the third largest IPO with an issue size of Rs 200 crore.

Through the sale offer, Nazara Technologies raised Rs 563 crore from a public issue between March 1 and March 19.

The stock traded at Rs 1,913.30 on the NSE and Rs 1,917.75 on the BSE at 10:02 am. Its volume on the NSE was 1.0.09 lakh equity shares, which was 333..6 percent. The stock has risen to 7443.18 per cent with 1.33 lakh equity shares on the BSE.

HNI’s quota limit has been bid 390 times. Eligible institutional bidders subscribed to the issue 104 times and retail investors subscribed 75 times.

According to Economic Times, Rakesh Jhunjhunwala owns 10.22 per cent stake in the Rs 556 crore company. In 2008, Rakesh invested Rs 180 crore in Nazara Technologies.

Money Control says analysts expect a 50-67 percent premium.

The company is a leading sports and gaming media platform that provides interactive gaming. In fiscal year F-1Y, the amount of sporting goods for Nazareth increased by 60 percent.

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