Nazara Technologies Limited an India based, diversified gaming and sports media platform today announced that its board has approved preferential allotment of fresh equity to raise ₹315.30 Crores from marquee institutional investors subject to the approval of the shareholders of the Company and such regulatory/statutory authorities as may be applicable.
The Company will issue 1,429,266 equity shares of face value of ₹4/- each at a price of ₹2,206/- per equity share (including a premium of ₹2,202/- per equity share). As per SEBI ICDR Guidelines, these shares will be locked in for a period of 1 year from the date of issue.
This infusion of fresh funds will be utilized to invest in growth initiatives of the company as well as pursue strategic acquisitions in the various business verticals of the company including gamified learning, freemium, skill-based real money gaming and esports as the company continues to expand its ‘Friends of Nazara’ ecosystem.
Says Nazara Technologies Ltd., CEO, Manish Agarwal, “We are thankful to our investors for their strong endorsement of Nazara’s strategic vision and ability to execute towards its stated goals. The investment from such institutional investors will act as a catalyst for the Nazara flywheel to operate faster across all business segments and will result in compounding of the shareholder value organically and inorganically at the parent as well as at subsidiary levels”
The ‘Friends of Nazara’ network comprises of established gaming companies in which Nazara holds majority stakes and works actively with existing founders and management teams to rapidly achieve scale. These companies include Nodwin Gaming and Sportskeeda in esports, Next Wave Multimedia (developer of World Cricket Championship (WCC), the largest mobile-based cricket simulation game), Paper Boat Apps (developers of popular gamified early learning app Kiddopia) and Halaplay and Openplay in the skill-based real money gaming vertical.
About Nazara Technologies
Nazara is an India based diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, esports and gamified early learning ecosystems. The company owns some of the most recognisable IP, including WCC and CarromClash in mobile games, Kiddopia in gamified early learning, NODWIN and Sportskeeda in Esports and Esports media, and Halaplay and Qunami in skill-based, fantasy and trivia games.
Donna Amo is a writer at Gutshot Magazine. She is a graduate from Sophia College of Women, Mumbai with a degree in English Literature. When this October born foodie is not writing content or poetry, she spends her time laughing at memes or watching series. Based out of Mizoram, she is drawn to all things nature and has a soft spot for puppies.
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