Social gaming company Nazara Technologies to go public by March 2018, aims to raise Rs. 1000 crore in IPO

Soci💃al games company Nazara Techno🎶logies Pvt Ltd has announced that it will file for an Initial Public Offering (IPO) to list on the bourses by the end of this financial year. Nazara could be valued at Rs 3,000-3,500 crore which is expected to give its investor WestBridge Capital a whopping 75-80 times return on its 12-year-old bet.

Nazara Technologies which had a turnover of Rs. 550 cr𓃲ores and profit after tax of around Rs. 66 crores last year is one of the few profitable social gaming companies. Promoted by Mumbai-based Vikash and Nitish Mittersain, Nazara, which has presence in over 74 countries and has partnered with celebrities like Hrithik Roshan, Rohit Sharma and Virat Kohli is known for its popular mobile games such as Chhota Bheem, Stick Cricket, Bike Racing etc.

The Nazara Technologies management hꦬas also indicated that it is contemplating entering the real money skill games space and is likely to offer games such as poker and teen patti very soon. The company has also indi♚cated that it will be investing in few gaming startups as well.

In February 2017, to allow players to compete with one another on computer games like Dota 2 and Leagues of Legends. Nazara had partnered with Ronnie Screwala for the venture and said that it was committed to invest Rs. 136 crores in the initiative over the next fiꦛve years.