March 20, 2021

Indian mobile cricket game maker goes public

categories : telecom

MUMBAI: The maker of the world’s most popular mobile cricket game concluded an $80 million IPO on Friday, becoming the first Indian gaming app to do so, following a pandemic-induced surge in popularity across the booming sector.
Nazara Technologies hopes to cash in on the success of its World Cricket Championship (WCC) app, with India’s mobile gaming industry expected to nearly treble in value over the next two years, according to a report by Hong Kong-based investment firm CLSA.
Cheap data, improved 4G networks and rising smartphone penetration have helped the industry grow to $1.2 billion in India, CLSA said, with virus lockdowns driving the expansion.
The sector has attracted investments of more than $500 million in the last six months, according to New Delhi-based Maple Capital Advisors.



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