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Nazara Technologies files IPO papers with Sebi

Press Trust of India  |  New Delhi 

Mobile games company Nazara Technologies has filed draft papers with markets regulator Sebi to float an initial public offering.

The company is popularly known for its games on World Cricket Championship, 'Chhota Bheem' and 'Motu Patlu' series.

Nazara's public issue will see sale of 5,543,052 equity shares by the existing shareholders -- WestBridge Ventures Investment Holdings and Mitter Infotech, according to draft red herring prospectus (DRHP).

Explaining the rational behind the IPO, the company said that listing of equity shares will enhance its brand name and provide liquidity to the existing shareholders.

"The listing will also provide a public market for equity shares in India," the company said.

and will manage the company's initial public offer (IPO). The equity shares are proposed to be listed on BSE and NSE.

In December, ace investor had acquired a minority stake in Nazara for about Rs 180 crore.

Nazara runs to mass comprising largely of first time mobile gamers across Africa, Middle East, South East Asia, Latin America and the Indian subcontinent. At present, it has operations in over 60 countries across emerging markets.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 01 2018. 18:50 IST
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