Rakesh Jhunjhunwala-backed Nazara Technologies is going to open its maiden public offer for subscription on March 17, within a price band of Rs 1,100-1,101 a share. The initial public offer of 52,94,392 equity shares will close on March 19, while the anchor book, if any, will open for bidding for a day on March 16.

It is a complete offer for sale by the existing selling shareholders 12,67,435 equity shares by IIFL Special Opportunities Fund; 10,36,286 equity shares by IIFL Special Opportunities Fund-Series 4; 8,73,989 equity shares by IIFL Special Opportunities Fund-Series 5; 8,16,804 equity shares by IIFL Special Opportunities Fund-Series 2; 6,91,900 equity shares by Mitter Infotech LLP and 3,93,349 equity shares by IIFL Special Opportunities Fund-Series 3.

Among others, Good Game Investment Trust will sell 1,50,000 equity shares, Seedfund 2 International 25,000, Porush Jain 23,725, Azimuth Investments 14,959, and Seedfund 2 India will sell 945 shares. Hence, the company will not receive any money from this IPO. The offer includes Rs 2 crore worth of shares for the company’s employees. Eligible employees will get shares at a discount of Rs 110 per share.

As per the RHP, promoters and promoter groups held 22.97 percent equity in the company and the rest is held by the public. Among the public, Mitter Infotech LLP, Arpit Khandelwal, and Rakesh Radheshyam Jhunjhunwala are the largest shareholders, owning 19.56 percent, 11.32 percent, and 10.82 percent equity stake respectively, in the company.