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Nazara Technologies increases stake in Absolute Sports (Sportskeeda)

Nazara Technologies, India’s leading diversified gaming and sports media company, announced its largest fundraising today to boost its growth trajectory. The company’s board has approved a preferential equity issue to raise ₹900 Crore, subject to shareholder and regulatory approvals. This capital infusion will fuel strategic acquisitions, fund business expansion, and enhance the company’s ability to seize new growth opportunities.

The preferential equity issue amounting to ₹900 Crore will be placed with marquee investors such as SBI Mutual Fund, Junomoneta Finsol (an associate of Plutus Wealth), Think Investments, Discovery Investments, Mithun and Siddharth Sacheti, Cohesion Investments, Chartered Finance and Leasing, Ratnabali Investments and Aamara Capital, further strengthening Nazara’s financial foundation for long-term expansion. These shares will be subject to SEBI regulations and lock-in requirements as per Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018.

In a parallel development, Nazara also acquired an additional 19.35% stake in Absolute Sports Pvt. Ltd., the parent company of Sportskeeda, for ₹145.5 Crore. 50% of the consideration was paid in cash, and the remaining amount was in stock. With this, Nazara now holds a 91% ownership stake in Absolute Sports, solidifying its leadership position in the sports media domain.

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Sportskeeda, Absolute Sports’ flagship brand, reaches millions of sports fans globally each month. It has significant traction in India and the U.S., where it ranks among the top sports platforms. In addition, Absolute Sports has recently expanded by acquiring Pro Football Network (PFN), SoapCentral, and Deltia’s Gaming, further diversifying its sports and entertainment portfolio.

Nitish Mittersain, CEO and Jt. MD, Nazara Technologies Limited,  speaks on development.

Nitish Mittersain, CEO & Jt MD of Nazara Technologies Limited, remarked, “Nazara has demonstrated its ability to attract top-tier investors who believe in our long-term vision of establishing India’s first globally respected gaming powerhouse. This ₹INR 900 Crore fundraising will be instrumental in accelerating our growth across key segments. Additionally, increasing our stake to 91% in Absolute Sports (Sportskeeda) reinforces our leadership in the sports media landscape. The growth of Absolute Sports, from its early days as a startup to becoming a global media player, underscores our commitment to supporting innovative teams that consistently deliver transformational growth.

He also posted about the development on his LinkedIn profile:

About Nazara Technologies Ltd.:

Nazara is India’s only listed gaming and Esports Company, with majority ownership of several leading gaming and esports brands with a presence in India, the US, and other global markets. In esports, Nazara has India’s leading esports platform, NODWIN Gaming, and Sportskeeda/Pro Football Network in the sports media space. Nazara’s offerings in the interactive gaming segment include gamified early learning ecosystems like Kiddopia and Animal Jam, a leading IP-based gaming studio ‘Fusebox’, India’s most popular cricket simulation franchise, World Cricket Championship (WCC), and a wide portfolio of casual games distributed through telco partnerships in many emerging markets. Additionally, Nazara controls Datawrkz, a digital ad tech company supporting its portfolio companies and external clients with demand-side user acquisition and supply-side ad monetization services.

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