The initial public offering (IPO) of ace investor Rakesh Jhunjhunwala-backed Nazara Technologies continues to see a strong response, as the public issue was subscribed 10.55 times by the morning of March 18, the second day of bidding. The IPO closes for subscription on March 19.
The issue has received bids for 3.08 crore equity shares against an offer size of 29.20 lakh equity shares, the subscription data on exchanges showed.
Non-institutional investors have put in bids 7.73 times more than their reserved portion, while the portion set aside for retail investors has seen a massive 44.47 times subscription and that of employees is subscribed 5.33 times.
The company has reserved 20,181 equity shares for its employees valued at nearly Rs 2 crore at a discounted price of Rs 991 per share. The company may offer shares to employees at a discount of Rs 110 per share.