Asia
Nazara Technologies Limited Initial Public Offer to open on March 17, 2021
Nazara Technologies Limited, 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 ecosystems including World Cricket Championship (WCC) and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin and Sportskeeda in eSports and eSports media, and Halaplay and Qunami in skill-based, fantasy and trivia games, will open the initial public offer of equity shares of face value of ₹4 each (“Equity Shares” and such initial public offer, the “Offer”) on March 17, 2021. The Offer will close on March 19, 2021. The Price Band of the Offer has been fixed at ₹1,100 to ₹1,101 per Equity Share.
The Offer comprises initial public offering of up to 5,294,392 equity shares of face value of ₹4 each (“Equity Shares”) of Nazara Technologies Limited (“Company” or “Issuer”), through an offer for sale of by the selling shareholders, comprising of up to 1,267,435 equity shares by IIFL Special Opportunities Fund, up to 1,036,286 equity shares by IIFL Special Opportunities Fund – Series 4, up to 873,989 equity shares by IIFL Special Opportunities Fund – Series 5, up to 816,804 equity shares by IIFL Special Opportunities Fund – Series 2, up to 691,900 equity shares by Mitter Infotech LLP (the “Promoter Selling Shareholder”), up to 393,349 equity shares by IIFL Special Opportunities Fund – Series 3, (IIFL Special Opportunities Fund, IIFL Special Opportunities Fund – Series 4, IIFL Special Opportunities Fund – Series 5, IIFL Special Opportunities Fund – Series 2 and IIFL Special Opportunities Fund – Series 3 together, referred to as the “Investor Selling Shareholders”), up to 150,000 equity shares by Good Game Investment Trust, up to 25,000 equity shares by Seedfund 2 International, up to 23,725 equity shares by Porush Jain, up to 14,959 equity shares by Azimuth Investments Limited and up to 945 equity shares by Seedfund 2 India (Good Game Investment Trust, Seedfund 2 International, Porush Jain, Azimuth Investments Limited and Seedfund 2 India together, referred to as the “Other Selling Shareholders, and together with the Promoter Selling Shareholder and the Investor Selling Shareholders, referred to as the “Selling Shareholders”). This offer includes a reservation aggregating up to ₹20 million for purchase by eligible employees (the “Employee Reservation Portion”). The offer less the employee reservation portion is hereinafter referred to as the “Net Offer”. The Company, the Promoter Selling Shareholder and the Investor Selling Shareholders in consultation with the BRLMs, may offer a discount of up to 10.00% to the Offer Price (₹110 per share) to Eligible Employees Bidding in the Employee Reservation Portion (“Employee Discount”).
Bids can be made for a minimum of 13 Equity Shares and in multiples of 13 Equity Shares thereafter.
The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that our Company, the Promoter Selling Shareholder and the Investor Selling Shareholders in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion. One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation
Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.
Further, not more than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to RIBs in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank account (including UPI ID for RIBs using UPI Mechanism), in which the corresponding Bid Amounts will be blocked by the SCSBs or the Sponsor Bank, as applicable. Anchor Investors are not permitted to participate in the Offer through the ASBA process.
ICICI Securities Limited, IIFL Securities Limited (in compliance with the proviso to Regulation 21A of the SEBI (Merchant Bankers) Regulations, 1992, IIFL Securities Limited will be involved only in marketing of the Offer), Jefferies India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers to the Offer.
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Citing risks posed by Philippine Offshore Gaming Operators (POGO) operations in the country, President Ferdinand R. Marcos Jr. issued Executive Order No. 74 imposing an immediate ban on offshore and internet gaming in the country.
In issuing the EO 74, President Marcos said “the State has the paramount duty to safeguard national security, maintain public order, uphold the rule of law, protect the safety of its citizens, and ensure the integrity of the social fabric of the nation.”
“…In pursuit of such duty, an unequivocal ban of POGO/IGL operations was pronounced during the State of the Nation Address on 22 July 2024.”
The EO cited the Department of Finance (DOF) study in saying that POGO activities significantly outweigh the economic and social benefits derived from the POGO industry because of the risks and negative consequences such as increased crime rates, social instability and exploitation of vulnerable people associated with them.
The Anti-Money Laundering Council (AMLC) Report also indicated POGOs have been identified as susceptible to money laundering, fraud and other illicit financial activities, and therefore pose substantial threats to the integrity of the national financial system.
“The high reputational risks associated with POGO/IGL operations deter foreign investment and tourism, undermining the efforts of the National Government in promoting the country as a safe and sustainable investment and tourism destination,” the EO stated.
The President’s order, signed by Executive Secretary Lucas Bersamin on Nov. 5, will cover Philippine Offshore Gaming Operators and Offshore Gaming Operations and Services.
All POGOs/IGLs and other offshore gaming operations and other offshore gaming-related/auxiliary/ancillary services with issued licenses, permits are expected to completely cease operations, including the winding up of their affairs, on December 31, 2024 or earlier.
And to develop and implement a comprehensive strategy, Technical Working Groups (TWGs) will be created. The TWG on Employment Recovery and Reintegration will address the impact of the foregoing ban on the affected sectors of the economy and ensure the reintegration of displaced Filipino workers.
This will also involve the provision of assistance and safety nets which include upskilling and reskilling programmes to ensure displaced workers could find new jobs.
The President also issued directives to national government agencies in response to the immediate POGO operations prohibition.
He wants the Presidential Anti-Organised Crime Commission (PAOCC), Philippine Drug Enforcement Agency, and other law enforcement agencies to intensify their efforts against illegal POGOs/GLs and other offshore gaming operations and services.
The Department of Human Settlements and Urban Development (DHSUD) was instructed to assist the TWG on Anti-Illegal Offshore Gaming Operations in securing the cooperation of homeowners associations to ensure the non-proliferation of POGO/IGL and other offshore gaming operations and services in subdivisions, condominiums and other real estate developments.
The post PBBM Orders Immediate Ban Against All PH POGO Operations appeared first on European Gaming Industry News.
Asia
Making Indian Presence Felt: Natural8 India gears up to take a contingent of nine winners of its latest India Exclusive to Asian Poker Tour (APT) Phu Quoc!
With fully expense paid trip to the breathtaking island and a whopping INR 15 lakh in additional benefits, the winners will compete with Asia’s best poker players for the ultimate prize in the Main and Mini Main Events
Underlining its commitment to establishing India’s competitive poker scene on a global stage, Natural8 India is taking a massive contingent of nine players on an all-expenses paid trip to compete at the Asian Poker Tour (APT) Phu Quoc. In doing so, these nine players – Kishore Kumar V C, Romit Advani, Akhand Shukla, Myron Pereira, Pranav Khandalkar, Arindam Nayak, Anurag Rawat, Rasik Bhatia, and Harsh Bharti – will have a shot at winning the ultimate prize at the Main Event: the APT Trophy and the Main Event prize pool!
To facilitate this, Natural8 India has offered bonuses worth a whopping INR 15 lakh to the nine winners of its latest India Exclusive. In addition to travel and accommodation (worth around INR 85,000 per head) to all players, it has also offered the top four players a chance to compete at the main table with Main Event tickets worth INR 1,23,905 each while the other five players are set to compete at the Mini Main Event with tickets worth INR 41,301 each.
Speaking at the announcement, Kunal Patni, Executive Director and Country Head, Natural8 India, said, “The Indian competitive poker community is rapidly establishing itself as a thriving space and actively challenging the top players, whether in Asia or a global stage. At Natural8 India, we are proud to be driving this shift with events such as our India Exclusives, where we uncover the next wave of talented competitive poker players and give them a chance to shine at the grandest stages. It is inspiring to witness the energy at these tables, with both seasoned players and fresh talent coming together to elevate the game. We’re eagerly anticipating more intense showdowns at the APT Phu Quoc as our contingent takes on the best poker players from across Asia. We wish all the participants the very best!”
The post Making Indian Presence Felt: Natural8 India gears up to take a contingent of nine winners of its latest India Exclusive to Asian Poker Tour (APT) Phu Quoc! appeared first on European Gaming Industry News.
Lui Che Woo, the casino tycoon who helped propel Macau to eclipse rival Las Vegas in gambling revenues, has died at the age of 95, his company said in a statement late on Monday.
Lui, chairman of Macau casino company Galaxy Entertainment, died in Hong Kong on Nov. 7, it said, adding that his “vision, tremendous leadership and guidance” were the foundation for the group’s development and continued success.
Also the chairman of K. Wah Group, a Hong Kong-listed company focused on construction and quarry mining before turning to property, Lui was widely recognised in both Hong Kong and Macau as an influential businessman with close ties to the Chinese government.
One of Hong Kong’s richest men, Lui kept a low profile and was always seen wearing a flat cap as he went about the city and when he attended press conferences.
A member of China’s national advisory body, the Chinese People’s Political Consultative Conference, Lui had close ties to Beijing and was part of a business delegation that met with President Xi Jinping in 2014 in China’s capital.
Galaxy Entertainment holds one of six coveted gaming licenses that were granted after Macau liberalised the casino industry in 2002.
Competing with rivals like the now deceased Stanley Ho, whose family runs the SJM Holdings casino empire, the late U.S. billionaire Sheldon Adelson and Wynn Resorts founder Steve Wynn, Lui steered Galaxy to become of Macau’s top operators.
It operates several large casino resorts in Macau, both on the Las Vegas-style Cotai strip and on the teeming main peninsula.
The post Hong Kong Construction Titan Turned Macau Casino Boss Lui Che-Woo Dies Aged 95 appeared first on European Gaming Industry News.
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