Indian business magnate and billionaire Rakesh Jhunjhunwala has broken new ground on the country’s stock exchanges with the listing of his gaming firm Nazara Technologies. The Jhunjhunwala-backed Nazara made history in India with its initial public offering (IPO) by becoming the first gaming firm to ever list on Indian stock exchanges. The idea behind the IPO is to raise the company’s profile, both in India and on the global stage. The hope is that this increased exposure will lead to more investment opportunities from all over the world. “Having a gaming IPO opens a lot of investor interest in this space. India is still under-penetrated from a gaming point of view. Knowing there is a listed stock that can be tracked across the world augurs well for the gaming industry,” said the chief executive of Nazara Technologies, Manish Agarwal.
Who is Rakesh Jhunjhunwala?
Jhunjhunwala grew up as part of a Marwadi Family in the suburbs of Mumbai. His father worked as commissioner of income tax for Bombay, and he attended Sydenham College of Commerce and Economics before enrolling at the Institute of Chartered Accountants of India.
As of January this year, Jhunjhunwala was ranked as the 38th richest person in India, with an estimated net worth of over $3.3-billion. He is known colloquially as the “Warren Buffet of India” and the “King of Bull Market”.
Importantly, he knows a good deal when he sees one, and the online gaming space is an exciting industry right now. According to a report published on Business World, India is set to become an industry leader in global online gaming culture soon.
By the end of this year, the gaming industry is projected to hit the $50-billion mark for revenue, with online gambling and internet casinos being one of the largest sectors of this rapidly growing industry. The growth is not expected to slow down any time soon either, with predictions indicating there could be as many as 650 million Indian internet users by 2023.
Everything You Need To Know About The Nazara Tech IPO
Through the IPO, it has emerged that Nazara Tech is not only the first Indian online gaming platform to be listed on local stock exchanges. It is also the country’s only gaming firm with a presence in both emerging and developed markets simultaneously, such as Africa and North America.
Gaming is at the heart of everything Nazara does with the company’s offering, including traditional gaming, interactive games, competitive esports, online gambling, iGaming, and a learning ecosystem for children driven by gamification to make it as fun and engaging as possible.
The IPO began on 17 March and closed on 19 March. The initial face value of shares was Rs4, with about 529 million shares issued. The maximum issue size was set at Rs 583 crore with a minimum bid of three shares. The company was listed on both the BSE and NSE.
Nazara makes most of its income through gamified e-learning, with around 40% of its revenue coming in from this vertical. Second is esports contributing almost 32% of revenue, followed by Telco subscriptions (21%), freemium games (4.5%).
With real money games bringing in just 3.1% revenue by the start of 2021, it is clear there is enormous room for growth in this area. Due to global market trends, there are some fears the company may not be able to effectively monetize the esports vertical to the full potential many believes the industry possesses; this should more than be made up for by planned gains in the iGaming space.
Nazara has an encouragingly diversified portfolio already, with its share of the revenue from India (around 41%) already being matched by the contribution from North America. It is very impressive considering that the region only contributed about 12% of revenue 12 months ago before the shrewd acquisition of children’s learning application Kiddopia in July 2020.
Daylight robbery is not quite usual but it does not strike out the fact that it is highly possible. Many a time cases as such have surfaced online where normal people were robbed in broad daylight. Recently, the passengers in a taxi got robbed inside the Pragati Maidan tunnel in Delhi on Saturday afternoon.
Four men rob taxi passengers at gunpoint in broad daylight and here is what Delhi Police have to say
On Saturday, a delivery agent and his associate were robbed at gunpoint by a group of unknown assailants, stealing around Rs 1.5 to Rs 2 lakh cash from them. In spite of having 16 security guards in the Pragati Tunnel, there were no CCTV cameras installed. Although the Public Works Department assured that cameras are installed, they did not confirm their operational conditions.
The victims made a complaint at Tilak Marg police station later in the evening. The Pragati tunnel is a 1.5 km tunnel that connects New Delhi with Sarai Kale Khan and Noida. The police said that following the complaint made by the victims, a case has been filed under Sections 397 IPC which covers robbery, or dacoity with an attempt to cause death or grievous hurt and 34 (common intention).
The Deputy Commissioner of Police, Pranav Tayal, has shared that the complainant can be identified as Patel Sajan Kumar and his associate Jigar Patel. Patel Sajan works as a delivery agent for a private firm in Chandni Chow and has informed the police that he and Jigar were going to Gurugram to deliver the cash to a client.
As per the registered complaint, the two of them hired an Ola cab from near Red Fort. As soon as the cab entered the Pragati Maidan tunnel from Ring Road, four assailants on two motorcycles surrounded their cab and robbed the cash off them keeping them at gunpoint.
Delhi Minister Atishi also took to Twitter and slammed the incompetency of the Lieutenant Governor. She tweeted,
LG साहब: अगर आपको @ArvindKejriwal के कामों का क्रेडिट लेने से फ़ुरसत मिले तो कभी अपनी संवैधानिक ज़िम्मेदारी पर भी ध्यान दीजिए। दिल्ली वालों को सुरक्षा देना आपका काम है। और अब दिन दहाड़े दिल्ली में चोरी, डकैती और क़त्ल की वारदातें हो रही हैं। या तो आप सुरक्षा की ज़िम्मेदारी लीजिए,… https://t.co/RG4c9ozWnW
Coming across train service complaints on social media is nothing new. Very often than not we find passengers complaining about bland food or bugs in the cooked food provided to them. Quite recently someone took to Twitter regarding a complaint where they found plastic in the railway food. But the latest thing that happened has actually stunned everyone when a video of the roof of a passenger coach train surfaced online.
Indian Railways slammed over water leakage in AC coach
Netizens have harshly criticized the poor management and maintenance of the train coaches after a surprising video surfaced online. Recently, a video went viral on social media platforms in which it can be clearly seen rainwater seeping in through the roof of the 2-tier AC coach of the Avantika Express. The Congress party also reshared the video uploaded by a passenger and took to Twitter to play the blame game immediately.
“काश खोखले प्रचार की जगह रेलवे के लिए कुछ काम किया होता। झंडी दिखाने वाले रेल मंत्री अभी विदेश में हैं, नाम वाले रेल मंत्री ध्यान दें। (Wish some actual work would have been done for the Railways in place of empty propaganda. The railway minister who shows the flag is currently abroad, the named railway minister should pay attention)”
काश खोखले प्रचार की जगह रेलवे के लिए कुछ काम किया होता।
झंडी दिखाने वाले रेल मंत्री अभी विदेश में हैं, नाम वाले रेल मंत्री ध्यान दें। pic.twitter.com/FNLvQL1Ihu
It was a jab at the Prime Minister, Narendra Modi, who recently flagged off 11 Vande Bharat Express, the Railways’ newest hi-tech train.
Railways response to the above-mentioned tweet
The Western Railway took to Twitter to respond to that tweet hours later and stated that all the coaches of the Avantika Express train were properly checked.
“All coaches of Avantika Exp have been checked thoroughly & issue has been attended to promptly. The train has commenced its return journey & there are no such issues now. Passenger convenience is of utmost priority & WR leaves no stone unturned to resolve passengers’ grievances”
All coaches of Avantika Exp have been checked thoroughly & issue has been attended promptly.
The train has commenced its return journey & there are no such issues now.
Passenger convenience is of utmost priority & WR leaves no stone unturned to resolve passengers’ grievances. pic.twitter.com/V9QyKiIowJ
Thandi hawa ke sath sath sarkar ne barish ke pani ka bhi anand lene ke liye ye nayab tarikib lagai hai isme bhrastachar bilkul nhi hai aur haa jine murko ke ye lgta hai isme amir log travel krte hai to unko ye bta du amir log plan me jate hai aur dikhave wale amir train me….🤐
— Mahua Moitra Fans (@MahuaMoitraFans) June 25, 2023
This is probably not the first time that something has happened as per the claims of this Twitter user,
Recently travelled from 12424 Rajdhani Express to #Guwahati , had a very bad experience. As it was raining the rainwater was leaking in every coach and also there was no water in most of the dirty toilets. TTE ignored the complaint and asked to register complaint via phone.
On Sunday, Shah Rukh Khan aka the King Khan, completed 31 years in Bollywood industry. It was in 1992, when he made his debut in the industry with the movie Deewana opposite late actress Divya Bharti. As the fans celebrated the big day on social media with amazing messages and tributes for the actor, SRK also decided to celebrate the occasion with his fans in his own style.
Shah Rukh Khan completed 31 years in Bollywood
He took some time out of his busy schedule and held an #AskSRK session on Twitter. Starting the question and answer session on Twitter, SRK wrote:
“Wow just realised it’s 31 yrs to the day when Deewana hit the screens. It’s been quite a ride mostly a good one. Thanks all and we can do 31minutes of #AskSRK ??”
In no time, his Tweet was flooded with a variety of questions from fans for their favorite actor. SRK, who is known for his hilarious sense of humor, gave amazing replies to his fans with wit and humor.
Wow just realised it’s 31 yrs to the day when Deewana hit the screens. It’s been quite a ride mostly a good one. Thanks all and we can do 31minutes of #AskSRK ??
While interacting with the fans, King Khan stumbled upon a question that was asked by a female fan, who is currently pregnant with twins. The fan came up with an epic Tweet for the Pathaan actor. She asked:
“sir i am pregnant with twin babies..wish me luck i will name them pathaan and jawan.”
sir i am pregnant with twin babies..wish me luck i will name them pathaan and jawan ❤️ #AskSRK 5
Besides all the funny and hilarious answers, SRK was also seen giving some serious answers. A fan asked him if he would do a movie like Swades again, a role that was loved by one and all
Talking about his work front, SRK made a comeback after a hiatus of 4 years with Siddharth Anand’s blockbuster action-thriller Pathaan, which hit the theatres in January this year. SRK will be next seen in the upcoming action-thriller Jawan, which will be released on September 7th.
Jawan is directed by South filmmaker Atlee. Produced under SRK’s Red Chillies Entertainment, the movie also stars Nayanthara and Vijay Sethupathi in lead roles.