Nazara is presently leading a financing round led by SBI Mutual Fund with a goal of raising Rs 900 crore (about $108 million). Think India Opportunities Fund, Juno Moneta Finsol, Discovery Global, and other investors are among the others.
Nazara’s board has adopted a resolution to issue 94,31,294 equity shares at an issue price of Rs 954.27 per share, for a total of Rs 900 crore ($108 million), according to a statement filed with the National Stock Exchange (NSE).
SBI Mutual Fund led the round with a contribution of Rs 220 crore. Think India Opportunities Fund and Juno Moneta Finsol each donated Rs 150 crore. The other co-founders of Caratlane, Siddharth and Mithun Sacheti, invested an additional Rs 155 crore. The remaining funds were supplied by Aamara Capital, Ratnabali Investment, Chartered Finance, Cohesion MK, Discovery Global, and Meenakshi Mercantiles. According to the filing, the preferential allotment is subject to shareholder approval, and the meeting is set for October 12.
Read also – [Funding news] Genesis Alternative Ventures Raises US$125 Million for Second Venture Debt Fund
In a different strategic move, Nazara paid Rs 145.47 crore to purchase a 19.35% interest in Absolute Sports, the parent company of Sportskeeda. The remaining sum will be divided by a share transfer of Nazara’s shares, with Rs 72.73 crore being paid out in cash.
About Nazara
Nazara Technologies began as a games portal created by a tech-obsessed college student and has evolved over the past 20 years to become the only listed games firm in India and a multi-million dollar platform for gaming and sports media.
