• Nazara Technologies is a leading India based diversified gaming and sports media platform
• The company has presence in India and across several emerging and developed global markets
• Offerings across interactive gaming, eSports and gamified early learning ecosystems
• Nazara holds the top position in India across sports simulation and eSports segment
• Well placed to leverage the opportunity in interactive mobile games, eSPorts content, and gamified early learning segment
• High focus on self-sustainability of business and positive EBITDA
• Indian mobile gaming market will expand given the rising adoption of smartphones, reducing data prices, increased internet penetration and higher internet speed
• Company’s focus has been on inorganic growth and it invested Rs 300 Cr in the last five years

Nazara Technologies IPO opens for subscription between March 17 to March 19, 2021.

The company began its operations in 1999 in Mumbai. It’s aim is to cater to billion-plus mobile internet players across emerging markets. The target segment is the players who have embraced social multiplayer interactive gaming as the primary form of entertainment. To achieve this, Nazara will provide interactive mobile games, eSports content and gamified learning apps. The idea is to develop entertaining, locally relevant apps that result in positive engagement and help longer user retention on the platform.

Product offerings and revenue segments

Nazara Technologies offerings include:

• World Cricket Championship (WCC) and CarromClash in mobile games
• Kiddopia in gamified early learning
• Nodwin and Sportskeeda in eSports
• Halaplay and Qunani in skill-based fantasy and trivia games

Nazara Technologies currently derives most of its revenues from users’ subscription fees for accessing the gamified early learning content and eSports business. Revenue split across business segments is as follows:

Investments by Nazara Technologies

Nazara has been an aggressive investor in the Indian gaming ecosystem and has invested over Rs 300 Cr in the last five years.

About the promoters of Nazara Technologies

The promoters Vikash Mittersain, Nitish Mittersain and CEO, Mr Manish Agarwal, have a proven track record of entrepreneurial success and ably lead the management team.

Highly coveted investors such as IIFL, Mr Rakesh Jhunjhunwala and Mr Utpal Sheth also significantly contributed to Nazara Technologies’ growth.

Financial Profile

Below is the condensed financial information of Nazara Technologies Limited.

Amounts in Rs Cr excluding per share data

• There are no listed companies in India that engage in a similar business, and hence no industry comparison is available

Offer proceeds

 Utilization of proceeds:

• The company will not directly receive any proceeds from the offer

IPO Factsheet

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The information provided in the red herring prospectus filed by the company with the Securities and Exchange Board of India (www.sebi.gov.in) is the basis for this note. However, I recommend that the reader validate the data before making any financial decision. Also, investment in an initial public offering (IPO) is subject to market risks. It should be evaluated, keeping your risk profile and investment objective in mind. The author will not be responsible for any financial loss or otherwise resulting from any action taken based on the above.

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