Worldwide gaming and media sports organization Nazara Technologies has documented a draft red herring plan (DRHP) on January 14 with market controller Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).

The veteran speculator Rakesh Jhunjhunwala-supported organization had prior gotten an endorsement from SEBI for its first sale of stock in April 2018.

The public issue is a complete offer for sale of 49,65,476 equity shares by promoters and investors, as per regulatory filings.

The IPO will make Nazara the principal Indian gaming organization to enroll on the lookout. According to the DRHP recorded by Nazara, the organization will offer 49,65,476 value shares available to be purchased by advertisers and financial specialists with an assumed worth of Rs 4.

Promoters of the organization incorporate Chairman and Managing Director of the organization Vikash Mittersain who holds 250 value partakes in the organization, Joint Managing Director Nitish Mittersain who holds 10,11,453 value offers, and Mitter Infotech LLP which holds 59,55,125 value shares.

Established in 2000 by Nitish Mittersain, Nazara has championed itself in the intelligent gaming and sports area through ventures and acquisitions in different gaming classifications including esports, edutainment, infotainment, dream sports, multiplayer games like carrom and portable cricket match-ups.