Indian online gaming industry is showing exponential growth for the last 2 years. Among different online games, Cricket is the most popular online gaming industry. Indian fans treat cricket as a religion. Cricket supported online sports company like Nazara has grown rapidly in recent time.
Nazara Technologies has become the first online Indian gaming company to apply for Initial Public Offering(IPO). The Indian gaming industry will grow 4 times by 2024. The whole eSports industry will provide employment for 40000 people in the next 3-4 years.
Nazara Gets Ready for Market
Nazara is planning its Market debut in 2021. The company got IPO approval in 2018. The company started its IPO preparation in the last month of 2020. Related to IPO final draft, Nazara conducted a high-level meeting with its stakeholders on January 19.
As per the filed papers, 4965476 equity shares of Nazara will be available for public sale. ICICI Securities and Edelweiss will handle the finance-related services of the company. Nykaa, a cosmetic retailer, online food delivery giant Zomato, Delhivery, and PolicyBazaar are also planning to start their IPOs in 2021.
Recently, Westbridge Capital, an early investor in Nazara, left the company after selling its current share of Rs 500 crore. As per the reports, Westbridge got 40x benefit from its initial investment in Nazara.
Nazara Growth and other Statistics
Nazara Technologies is one of the largest online gaming and sports media companies in India. The company is mainly funded by Red Bull of Rakesh Jhunjhunwala. Gamer Nitish Mittersain founded Nazara in 2000. It’s a Mumbai based company.
Nazara is known for cricket related games. It also produces the most popular children series like Motu Patlu and Chhota Bheem. Nodwin, one of the units of Nazara, is a well-known name among International gamers. It provides online gaming events worldwide with huge popularity in 60 countries.
Nazara provides gaming platforms in the form of different plans. Freemium and subscription-based plans are the most popular ones.
The company is known for its wide variety of gaming and media categories. Esports, Edutainment, infotainment, fantasy gaming, carrom are the most popular niches where Nazara is providing services.
Nazara acquired Sportskeeda in 2019. Other than Sportskeeda, Kiddopia, CaromClash, Halaplay, and Qunami are the major subsidiaries of Nazara Technologies. Halaplay is one of the emerging Esports platforms in India.
Nazara generated Rs 264 crore revenue in FY 2020. The company saw a jump of approximately 69% in 2020 compare to the Rs 183 crore revenue in FY 2019. In the financial year 2021, Nazar is planning to achieve a revenue of approximately Rs 275 crore.