Nazara Tech, Suryoday IPOs oversubscribed as listing boom continues

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Nazara Technologies' initial public offering (IPO) saw 175 times more demand than the shares on offer, making it the second-most subscribed issue of 2021.

The issue attracted bids worth more than Rs 55,000 crore with high networth individual (HNI) category seeing nearly 390 times oversubscription. A HNI placing bids worth Rs 390 crore will be allotted shares worth Rs 1 crore.

Retail and institutional investor portions of the issue were subscribed 75 times and 104 times.

Nazara’s IPO consisted of a secondary share sale worth Rs 583 crore. The price band was set at Rs 1,100 to Rs 1,101 per