SUMMARY
- Nazara Technologies has secured Rs 855 crore (around $100 million) through a preferential issue.
- These funds are set to drive Nazara’s growth in the gaming and sports media industry.
- The round was led by SBI Innovative Opportunities Fund with a subscription of Rs 220 crore for more than 23 lakh shares.
Nazara Technologies has secured Rs 855 crore (around $100 million) through a preferential issue. The board gave the nod on November 27, 2024, after the company received the application funds from qualified investors.
These funds are set to drive Nazara’s growth in the gaming and sports media industry, as the company has announced in a filing with the stock exchange. The deal has received in-principle approval by both the BSE and NSE, with the final listing and trading expected shortly.
In September, the company board approved the fundraising resolution.
The round was led by SBI Innovative Opportunities Fund with a subscription of Rs 220 crore for more than 23 lakh shares. Junomoneta Finsol Private Limited came next with a contribution of Rs 150 crore for 15.71 lakh shares. Think India Opportunities Master Fund LP also put in Rs 150 crore, with Siddhartha Sacheti and Mithun Padam Sacheti each investing Rs 75 crore.
Other significant investors include Cohesion MK Best Ideas Sub-Trust with a contribution of Rs 57 crore, Chartered Finance & Leasing Limited with Rs 38 crore, and Discovery Global Opportunity (Mauritius) Ltd with Rs 35 crore. Additionally, smaller investments were made by Ratnabali Investment Private Limited at Rs 35 crore, Meenakshi Mercantiles Limited at Rs 15 crore, and Aamara Capital Private Limited at Rs 5 crore.
Through this deal, Mumbai-based Nazara has seen its equity share capital rise from Rs 30.62 crore to Rs 34.20 crore.
In Q2 FY25, Nazara Technologies reported a 7.3% increase in revenue to Rs 318.94 crore and a 10.85% rise in profit to Rs 21.97 crore.
