Nazara Technologies, a gaming and media company, announced on Monday that it would offer equity shares to raise Rs 100 crore from Nikhil Kamath, a cofounder of retail stockbroker Zerodha.
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According to the company, Kamath will receive shares priced at Rs. 714 each. Early morning trading on the National Stock Exchange (NSE) saw a 9.7% increase in the company’s share price to Rs 833.45. The board of Nazara approved raising up to Rs 750 crore through equity shares on July 10, as per reported by The Economics Times.
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“Gaming in India is poised for strong growth in the years to come and Nazara has built a well-diversified, profitable gaming platform well suited to take advantage of opportunities in the years ahead. We look forward to supporting Nitish and his team in achieving their growth aspirations for Nazara,” Kamath said on the investment.
“Nikhil Kamath symbolizes success in India’s tech arena, and this fund raise holds immense value for us at Nazara as we continue to build a diversified gaming platform in India. Beyond the funds raised, his investment stands as a resounding vote of confidence in Nazara,” said Nitish Mittersain, CEO, Nazara Technologies.
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About Nazara
With operations in India, Africa, and North America, Nazara is a top-tier, diverse gaming and sports media platform. Offerings from the company span the interactive gaming, eSports, ad-tech, and gamified early learning ecosystems. These include World Cricket Championship (WCC), CarromClash, and Kiddopia in mobile games, Nodwin, PublishMe, and Sportskeeda in eSports and eSports media, OpenPlay, Halaplay, and Qunami in skill-based, fantasy, and trivia games, and Datawrkz in digital ad tech.
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