MUMBAI: Nazara Technologies Ltd, the cricket games developer backed by billionaire Rakesh Jhunjhunwala, became the first Indian gaming technology company to seek a market debut as mobile entertainment takes off across the world’s No. 2 smartphone arena.
The Mumbai-headquartered startup filed initial public offering (IPO) documents with India’s market regulator last Friday. Its impending debut on the local exchanges could encourage other Indian startups to tap public markets, after years of explosive growth in mobile and Internet usage created giant private firms from Paytm to Walmart Inc’s Flipkart.
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