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Nazara Technologies makes a stellar debut in stock markets, lists around 80% above issue price

Nazara Technologies shares listing: The Nazara Technologies scrip got listed at Rs 1,990.00 apiece on the NSE, thereby registering a gain of 80.75 per cent from its offer price of Rs 1,101.

By: Express Web Desk | New Delhi |
Updated: March 30, 2021 11:47:08 am
Nazara Technologies, Nazara Technologies IPO, Nazara Technologies share price, Nazara Technologies stock priceNazara Technologies Joint MD Nitish Mittersain.

Nazara Technologies share price: Shares of Nazara Technologies made a stellar debut on the stock exchanges today listing around 80 per cent higher than their issue price.

The scrip got listed at Rs 1,990.00 apiece on the National Stock Exchange (NSE), thereby registering a gain of 80.75 per cent from its offer price of Rs 1,101. On the BSE, it opened at Rs 1,971.00, up 79.02 per cent from the issue price.

The stock continued its initial momentum hitting a high Rs 2,026.90 on BSE and Rs 2,024.90 on the NSE during the first few minutes of trade on the first day, however, it slowly gave up its gains and touched an intraday low of Rs 1,590.00 on BSE and Rs 1,610.10 on NSE so far in the day.

Nearly 60 lakh shares of Nazara Technologies were traded on the NSE during the first 90 minutes of trade, while over 4.50 lakh shares exchanged hands on the BSE, data from the respective stock exchanges showed.

The Rs 583 crore IPO of Nazara Technologies met a robust demand during its offer period from March 17-19. The issue was oversubscribed by a whopping 175.46 times.

Nazara Technologies is a Mumbai-based gaming firm which is backed by ace investor Rakesh Jhunjhunwala. It is known for its popular games on World Cricket Championship, Chhota Bheem and Motu Patlu series. It is the first gaming company to get listed in Indian stock market.

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