Nazara, a gaming company, is currently in the process of raising Rs 900 crore (approximately $108 million) in a funding round that is being led by SBI Mutual Fund. Other investors include Juno Moneta Finsol, Think India Opportunities Fund, Discovery Global, and others.
According to its disclosure lodged with the National Stock Exchange (NSE), Nazara’s board has approved a resolution to issue 94,31,294 equity shares at an issue price of Rs 954.27 each, resulting in a total of Rs 900 crore ($108 million).
The round was spearheaded by SBI Mutual Fund, which contributed Rs 220 crore. Juno Moneta Finsol and Think India Opportunities Fund each contributed Rs 150 crore. Siddharth and Mithun Sacheti, the co-founders of Caratlane, also contributed Rs 155 crore. Discovery Global, Cohesion MK, Chartered Finance, Ratnabali Investment, Meenakshi Mercantiles, and Aamara Capital contributed the remaining funds.
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The preferential allotment is contingent upon shareholder approval, with the meeting scheduled for October 12, as indicated in the filing.
Nazara has acquired an additional 19.35% stake in Absolute Sports, the parent company of Sportskeeda, for Rs 145.47 crore in a separate strategic move. Rs 72.73 crore will be disbursed in cash, while the remaining amount will be distributed through a share transfer of Nazara’s shares.
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