It is a bumper listing for Nazara Technologies which is India’s first gaming company to make its D-street debut.
Speaking to CNBC-TV18, Nitish Mittersain, Founder and MD of the company said that India has entered a decade of gaming. He believes that Nazara’s IPO is a milestone for the company as well as the gaming industry.
“I really believe that we have entered the decade of gaming in India. This IPO is a milestone for us as well as the gaming industry in India and I believe many more will follow. It is another step towards the dream that we have for India to become a top-three gaming nation in the world,” he said.
Mittersain said that they are investing aggressively into userbase. He also said that they will look at improving margins from current levels, however, he believes that margin optimization at this point would be a strategic mistake for them.
“At this point of time, we are investing very aggressively into the growth of userbase. We have profitable growth and wherever we are spending money, the unit economics are extremely positive. So, we are aggressively going after scaling up," he said.
"We would not like to burn money, but at the same time, trying to optimize margins at this point of time, would be very tactical and not strategic at all. So, I think it is a fine balance we are trying to get there. But at this time we will prioritize growth over margins in the near future while remaining profitable,” he said.
Manish Agarwal, CEO of Nazara Technologies said that they are working on geographical expansion and scouting for new markets while they continue to grow in the US.
“We have established a very strong LTV-CAC equation which gives us the freedom to acquire subscribers and keep increasing userbase and footprint in the US. Once you have got the engagement attention right of a country like the US, which is highly competitive, your probability of success increases in Western Europe. It increases in China, it increases in Japan, and that is what we will be working upon – how do we geographically expand and scout for new markets, new LTV-CAC positive stories while we continue to grow in the US,” he said.Watch video for more.