Angel Broking IPO report on Nazara Technologies
Nazara Technologies Ltd. is the leading India based diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America, and offerings across the interactive gaming, eSports and gamified early learning systems including World Cricket Championship (WCC) and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin and Sportskeeda in eSports and eSports media, Halaplay and Qunami in skill-based, fantasy and trivia games.
Valuation and Outlook
At current levels the stock is trading at EV/Sales of 11.6xFY20 revenues and we recommend a “SUBSCRIBE” rating to the IPO given strong growth potential for the company.
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