Shares of Nazara Technologies Ltd, an Indian mobile gaming platform, surged by more than 80% in the company’s March 30th market debut. Shares opened at 1,990 rupees that day and increased by as much as 83.91% to hit a high of 2,024.90 rupees.
This news comes after the initial public offering of Nazara was fully subscribed in Mid-March. Nazara is the first gaming company to list in India.
In early March, Motilal Oswal analysts had said “Nazara is well placed to leverage the opportunity that interactive mobile games, eSports content, and gamified early learning apps offer.”
Nazara is a company that organizes esports events, including video game tournaments. The organization also offers several free and paid mobile gaming apps for both kids as well as adults.
(All information was provided by Yahoo! Finance)