SUMMARY
- Nazara Technologies raised INR 220 crore from SBI Mutual Fund by issuing 23.05 lakh equity shares.
- The capital is part of a larger plan to raise INR 900 crore through a preferential equity issue.
- Nazara will use the funds to expand its gaming portfolio and strengthen its presence in India’s gaming market.
Nazara Technologies, a leading player in India’s gaming industry, has successfully raised INR 220 crore from SBI Mutual Fund, a major asset management firm. The company announced that it signed a share subscription agreement with SBI Funds Management Limited to issue 23.05 lakh equity shares at a price of INR 954.27 per share.
This latest funding round forms part of Nazara’s broader plan to raise INR 900 crore through a preferential equity issue, which was approved by the company’s board in September 2024. The funds are expected to be utilized for expanding Nazara’s gaming portfolio and enhancing its growth strategies in India’s booming online gaming and esports sector.
The issuance of shares to SBI Mutual Fund brings a substantial infusion of capital into Nazara Technologies, further solidifying its position in India’s competitive gaming market.
The INR 220 crore raised through this tranche will support Nazara’s strategic initiatives, including its efforts to scale its gaming ventures and capitalize on new opportunities in esports, mobile gaming, and gamified learning.
Nazara Technologies, which has already made significant inroads in the Indian gaming ecosystem, aims to further expand its operations through this capital infusion. The company operates across several verticals, including real-money gaming, mobile gaming, and esports, and has grown rapidly through acquisitions and strategic investments.
The funds will likely help Nazara enhance its product offerings and strengthen its technological infrastructure, especially as the gaming industry in India continues to experience rapid growth. According to market reports, India’s gaming market is projected to grow to $8.6 billion by 2027, driven by a surge in online gaming and esports.
The capital raised from SBI Mutual Fund is expected to contribute towards Nazara’s long-term growth and consolidation strategies. With its diverse portfolio, including popular titles and platforms in the mobile gaming and esports sectors, Nazara plans to reinforce its foothold in the global gaming landscape.
Nazara has also been eyeing international expansion, with a focus on tapping into growing gaming markets across Asia, the Middle East, and Africa. The company’s strategic investments in next-generation gaming technologies like AI-driven gaming platforms and blockchain gaming are expected to further drive its growth in these regions.
