16+ CR GTD
MPL Poker
Click here to get the latest issue of our e-Magazine
Pokersaint
Fantasy sports
Manthra Koliyer
Posted on 27 Apr, 2021
By Manthra Koliyer
On 27 Apr, 2021
Share
By Manthra Koliyer
On 27 Apr, 2021
Share

Fantasy Sports Application HalaPlay Plans To Raise INR 18 Crore


Fantasy Sports platform HalaPlay owned by Nazara Technologies plans to raise over INR 18 Crore, as per the filing of the public-listed company with the Bombay Stock Exchange. According to the filing, the board of directors of the company has provided in-principle approval for HalaPlay. This subsidiary of Nazara will be raising the funds from identified investors, whose names have not been revealed yet.

The filing reads as, “Post completion of the transaction, the stake of Nazara in HalaPlay will be diluted from 74.02% to 64.70%, on a fully diluted basis. Further, there will be no change in the management and control of HalaPlay upon completion of the aforesaid transaction. Esports segments and gamified learning have not only demonstrated strong growth in FY21 but have also laid the foundation for more growth. This has led to a predictable growth on account of retention and user engagement in multi-year media and game agreements in the case of esports”

ALSO READ: Share Prices Of Nazara Technologies Shot Up By 84%

The filing also revealed that a 1.40% equity stake worth INR 96.19 Lakh has been bought by Nazara in Absolute Sports Private Limited (ASPL) which runs the news website Sportskeeda. Following this, Nazara’s stake in ASPL has increased from 63.90% to 65.30%.

Meanwhile, Nazara, founded by Nitish Mittersain and Vikash Mittersain in 2000, has registered an 84% year-on-year (YOY) jump in consolidated revenue which stood at INR 454.2 Crore for FY21. There was an 820% growth in revenue in the gamified learning segment, which grew from INR 19.1 Crore in FY20 to INR 175.8 Crore in FY21. In the same manner, the revenue from esports doubled to INR 170.1 Crore from INR 84.2 Crore in FY20.

Nazara is a gaming and sports media platform which has a presence in India and global markets such as North America and Africa. Nazara specializes in esports, interactive gaming and is well-known for a variety of gaming apps such as World Cricket Championship (WCC), CarromClash, Kiddopia, Nodwin, Sportskeeda, Halaplay, and Qunami.

For more such articles, keep reading GutshotMagazine.com. Follow us on our social handles Facebook, Instagram, and Telegram.

NostraPoker’s Poker PLO Leaderboard Offer worth INR 5 Lakh is a STEAL


Tagged : 

More News

Summer Gets Better With Gutshot’s April E-magazine Edition! Issue OUT NOW
Poker
16 Apr,2021 

Summer Gets Better With Gutshot’s April E-magaz...

Are Fantasy Sports Players Exempted From Taxes? FIND OUT
Fantasy sports
25 Apr,2021 

Are Fantasy Sports Players Exempted From Taxes?...

Fantasy sports
17 Apr,2021 

Did you know THESE facts about Fantasy Sports?


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Dangal

Top 10 Poker Rooms

Pokersaint box banner

SUBMIT YOUR ARTICLE


    • Accept .doc, .docx, .pdf, .txt files only. and Max file size 20MB.

    Natural8 Tournament Guarantees July

    SUBMIT YOUR ARTICLE


      • Accept .doc, .docx, .pdf, .txt files only. and Max file size 20MB.

      Natural8 Tournament Guarantees July