NEW DELHI: Rakesh Jhunjhunwala-backed mobile gaming leader Nazara Technologies, whose Rs 583 crore IPO was sold between March 17 and 19, will finalise share allotment on Wednesday.
The issue, which was sold in the Rs 1,100-1,101 price band, received stellar response with 176 times subscription.
This was the third highest-ever subscription for an Indian IPO with an issue size of over Rs 200 crore. The previous record was held by MTAR Technologies, the Hyderabad-based precision engineering solutions company, whose issue had been subscribed more than 200 times last month.
Mrs Bectors Food Specialities’ IPO last year was subscribed 199 times. Some of the other IPOs of 2020 like Mazagon Dock, Burger King, Happiest Minds and Chemcon Speciality Chemicals were subscribed more than 150 times.
HNIs emerged the biggest bidders for the Nazara IPO with 390 times subscriptions, while the retail quota got subscribed 75 times. The quota for qualified institutional bidders (QIB) was subscribed 104 times.
Nazara is the only company in India to have rights over IP and assets across grassroot, regional, national and international eSports. The company has market-first positions in India across sports simulation and eSports. Its eSports content business grew 60 per cent in FY20 and nine times in last three years.
Choice Broking is expecting Nazara’s topline to rise 33.8 per cent annually to Rs 593 crore by FY23, based on conservative estimates. It expects Ebitda to expand 11 percentage points to 8.8 per cent (from -2.2 per cent in FY20) and PAT margin to grow 3 percentage points to 2.6 per cent (also negative in FY20) in FY23.
Investors, who have bid for the issue, can check the share allotment status on the following channels:
You can also check the share allotment status on the online portal of Link Intime India Private Ltd, the registrar to the issue. A registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications, and carries out the allotment process as per the prospectus.
10 stocks that analysts recommend for handsome returns in the near term
Money-making Ideas
Amid uncertainties on Dalal Street triggered by rising bond yields and increasing Covid-19 cases, the focus will remain on stock-specific action. Here are a few stocks that analysts say can help investors earn significant returns in the next few weeks:
Balrampur Chini Mills | Buy | Target: Rs 217
The stock has corrected more than 8 per cent from its all-time high registered last week. Currently, it is trading near its 20-day simple moving average, trading near an important retracement level on the weekly chart, indicating high chances of a trend reversal in the short term. In addition, on the weekly and monthly charts, the stock has maintained a higher bottom series pattern, which has helped positional traders take a positive stance near the crucial support zone.
(Analyst: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities)
Bandhan Bank | Buy | Target: Rs 370
The stock is hovering in the range of Rs 320-360 after a sharp correction. However, the medium-term wave structure of Bandhan Bank is still on the positive side. Hence, an ideal strategy should be to add this stock near its support levels. Moreover, it has taken strong support near a 200-day simple moving average along with modest volume activity. A strong bullish candle on the daily chart indicates high chances of a fresh uptrend from current levels.
(Analyst: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities)
SBI Life | Buy | Target: Rs 970
The stock has registered a sharp surge in the recent past, but it has failed to sustain higher levels after the Rs 955 breakout and corrected nearly 10 per cent due to consistent selling pressure. However, the medium-term structure of the stock is still on the positive side, and likely to continue in the near term. In addition, on the weekly charts, the stock is still maintaining a higher bottom series formation, which is broadly positive. Currently, the stock is trading near an important retracement support level, and the structure of the charts suggests high chances of a fresh uptrend wave from current levels.
(Analyst: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities)
Persistent Systems | Buy | Target: Rs 2,100
The stock has broken out on the daily chart with higher volumes, where it closed at an all-time high. Oscillators like RSI and MFI are showing strength, and the directional indicator is placed above the minus side while ADX is placed above 20, indicating momentum in the current uptrend. Technology as a sector is looking good on the chart from the short- to medium-term perspective. Buying is recommended at the CMP of Rs 1,942 for a target of Rs 2,100 with a stop loss at Rs 1,860.
(Analyst: Nandish Shah, Technical Research Analyst, HDFC Securities)
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and uploading of refunds, and attending to all investor-related queries after the issue is completed.
- Visit Link Intime India Private Ltd’s web portal (https://linkintime.co.in/MIPO/Ipoallotment.html)
- Select the IPO name in the dropbox, which will be populated only if the allotment is finalised
- You may be required to select either one of the three modes: Application number, Client ID or PAN ID
- Enter the details of the mode you selected in step 2
- Hit the ‘submit’ button
