Nazara Technologies has received Sebi’s approval, to float an initial public offering (IPO).

This is a mobile gaming company and is popular for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series. It filed draft paper with Sebi to launch an IPO on February 1, and has received its observations on April 20.

As per the draft papers, the company will have a public issue of 5,543,052 equity shares by existing shareholders WestBridge Ventures Investment Holdings and Mitter Infotech. Furthermore, ICICI Securities and Edelweiss Financial Services will manage the company’s IPO and the equity shares are proposed to be listed on BSE and NSE.

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