INDIA : Nazara Technologies Limited, an India-based gaming and sports media platform with a diversified portfolio, has disclosed today that its board has given the green light for a preferential allotment of equity shares. This move is aimed at raising up to INR 250 crores, contingent upon obtaining approval from the company’s shareholders.The Company is proposing to issue up to 28,66,474 (Twenty-Eight Lakh Sixty-Six Thousand Four Hundred and Four) equity shares of face value of Rs. 4/- each at a price of Rs. 872.15/- per equity share aggregating to INR 249,99,95,299.
Kamath Associates 50 crores
NKSquared 50 crores
Plutus Wealth Management Pvt Ltd 50 crores
Chartered Finance & Leasing Limited 25 crores
ICICI Prudential ESG Fund 13 crores
ICICI Prudential Flexicap Fund 22 crores
ICICI Prudential Technology Fund 40 crores
Total 250 crores
- The injection of new capital will be directed towards meeting the funding needs and growth aspirations of the company. This includes provisions for strategic acquisitions and fulfilling general corporate requirements.
- Nitish Mittersain, the Founder & CEO of Nazara Technologies, conveyed his excitement, saying, “We deeply appreciate the strong backing from our valued investors, including Nikhil Kamath, ICICI Prudential MF, and Plutus Wealth, who have significantly augmented their investments in Nazara. This not only reaffirms their confidence in our strategic vision and trajectory but also markedly enhances our financial position. With our combined cash reserves surpassing INR 1500 crores, Nazara is exceptionally well-equipped to pursue both organic expansion and strategic acquisitions.”
ABOUT NAZARA TECHNOLOGIES PVT LTD :
- Nazara stands out as India’s sole listed gaming and esports company, holding majority ownership in numerous prominent gaming and esports brands operating in India, the United States, and various global markets.
- In the esports realm, Nazara boasts Nodwin as India’s premier esports platform, along with Sportskeeda and Pro Football Network in the sports media domain. Nazara’s presence in the interactive gaming sector encompasses leading early learning ecosystems Kiddopia and Animal Jam, both global leaders in their respective segments.
- Additionally, Nazara is recognized for India’s widely acclaimed cricket simulation franchise, World Cricket Championship (WCC), Classic Rummy in the Indian Real Money Gaming segment, and a diverse portfolio of casual games distributed through telecommunications partnerships in several emerging markets.
- Nazara exercises control over Datawrkz, a digital adtech company providing support to its portfolio companies and external clients for demand-side user acquisition and supply-side ad monetization services.