India, March 17 -- Indian mobile gaming company Nazara Technologies' initial public offering (IPO) has opened today, with the company's shares listed both on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The offer will close on March 19. The issue has already seen over 2X subscription with bids for 59,52,778 shares till 1 pm, as against the issue size of 29,20,997 shares.

The Nazara IPO is entirely an offer-of-sale, with existing shareholders selling shares worth INR 580 Cr. According to the draft red herring prospectus (DRHP), the IPO includes an offer for sale of up to 691,900 equity shares by promoters, 3,933,947 equity shares by investors and 339,629 equity shares by others, a total of 5.29 Mn equity shares. ...