Nazara Technologies IPO has listed at around 79 percent premium, which is in synchronization with the stock market analysts' expectations.

On its listing, The market experts had predicted a bumper debut for Nazara Technologies shares and the public issue opened at Rs 1926.75 on the BSE and at Rs 1971 on the NSE. The price band of the Rakesh Jhunjhunwala-backed Nazara Technologies IPO was Rs 1100 to Rs 1101. Experts have advised Nazara Technologies shareholders to hold and wait for the next two to three days as it may go up to Rs 2,000.

In today’s trading session, till 2.25 pm,  the stock was down 20 percent at Rs. 1,592.00 from the previous price at Rs 1101 on the National Stock Exchange.  In comparison, the NSE Nifty stood at 14,872.45 up by 365 points in trade.

Nazara becomes the first gaming company to list in India. The 10.82 percent stake ace investor Rakesh Jhunjhunwala holds in the company was worth Rs 656 crore at listing. In valuation terms, it has become his sixth-largest stock bet.

Lately, the craze over IPOs has quieted with many of them debuting with discounts. Nazara was quoting at a strong premium in the grey market, and the eventual listing gain was on expected lines.

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