Incorporated in 1999, Nazara Technologies Ltd is a leading mobile game company in India. The company offers a range of diversified gaming products across the Interactive gaming, eSports, and gamified early learning ecosystem across emerging markets i.e. India, Africa, South East Asia, Middle East, and Latin America. It is one of the leading live eSports streaming and on-demand eSports media content providers in India. CarromClash and World Cricket Championships in mobile games, Kiddopia in gamified early learning, Nodwin and Sportskeeda in eSports, and Halaplay and Qunami are some of its offerings.
The business operates in different segments; Subscription-based business, Freemium Business, eSports, Gamified early learning, and Real money gaming. Subscription business focuses on mass mobile internet users comprising mainly first-time mobile gamers. The company derives maximum revenue from subscription fees charged from customers under the gamified early learning and eSports business segments, accounted for 71.03% of revenues for the six months period ended on Sep 30, 2020.
Competitive Strengths
- One of the leading eSports companies in India.
- Diversified business based on the geographical presence and gaming products.
- Strong leadership backed by marquee investors.
- Asset light business model.
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 To carry out the Offer for Sale of 5,294,392 Equity Shares by the Selling Shareholders | — |
| 2 Achieve the benefits of listing the Equity Shares on the Stock Exchanges | — |
| Metric | 30-Sep-20 | 31-Mar-20 | 31-Mar-19 |
|---|---|---|---|
| Total Assets | 799 | 777 | 515 |
| Revenue | 207 | 262 | 186 |
| PAT | 10 | 27 | 7 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 3,955,659 (75%) | — |
| NII / HNI | — | 791,131 (15%) | — |
| Retail (RII) | — | 527,421 (10%) | — |
| Employee | — | 20,181 (0%) | — |
| Total | — | 5,294,392 (100%) | — |
* Amount calculated at upper price band (₹1,101) · ** Total includes all investor categories
- 1 Initiation of Refund 25 Mar 2021
- 2 Credit of Shares to Demat 26 Mar 2021
- 3 Lock-in Period (30%) April 23, 2021
- 4 Lock-in Period (50%) June 22, 2021
- Retail allocation is weak at 10% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 75%.
This IPO has relatively lower interest or stretched valuation. Proceed with thorough research and caution.
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