Mumbai-based Nazara Technologies has raised ₹855 crore through a preferential issue. The board approved the allotment on November 27, 2024, after receiving funds from eligible investors.
Funding Utilisation
The funds will be used to expand Nazara’s gaming and sports media business, according to a stock exchange filing. The BSE and NSE have given initial approval, with final listing and trading permissions expected soon.
In September, Nazara's board approved the fundraise plan. The largest investor, SBI Innovative Opportunities Fund, contributed ₹220 crore for over 23 lakh shares. Junomoneta Finsol Private Limited invested ₹150 crore for 15.71 lakh shares, matched by Think India Opportunities Master Fund LP with ₹150 crore. Siddhartha Sacheti and Mithun Padam Sacheti each added ₹75 crore.
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Other key investors included Cohesion MK Best Ideas Sub-Trust with ₹57 crore, Chartered Finance & Leasing Limited with ₹38 crore, and Discovery Global Opportunity (Mauritius) Ltd with ₹35 crore. Smaller contributions came from Ratnabali Investment Private Limited (₹35 crore), Meenakshi Mercantiles Limited (₹15 crore), and Aamara Capital Private Limited (₹5 crore).
About Nazara Technologies
Nazara Technologies Limited is a leading mobile gaming company headquartered in India, with offices in Dubai, Africa, and Singapore. It is India’s largest mobile entertainment platform, serving over 100 million monthly active users.
Nazara’s network includes prominent brands like Nodwin Gaming (India’s top esports company), Nextwave Multimedia (creators of WCC, the world’s #1 cricket game), SportsKeeda (India’s leading esports content platform), Halaplay (fantasy sports), Qunami (quiz app), and Nazara Digital (a fast-growing mobile games publisher operating in 100+ countries).
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