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Gaming and sports media platform, Nazara Technologies Limited, plans to raise ₹315.30 crore from marquee institutional investors subject to the approval of the shareholders of the company.
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.
Growth initiatives
This infusion of fresh funds will be utilised 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 e-sports as the company continues to expand its “Friends of Nazara” ecosystem.
Also see: Nazara Tech acquires OpenPlay for ₹186 crore
Manish Agarwal, CEO, Nazara Technologies, said, “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 parent as well as at subsidiary levels”
“Friends of Nazara” network
The “Friends of Nazara” network comprises of established gaming companies in which Nazara holds majority stakes and works actively with to rapidly achieve scale. These companies include Nodwin Gaming and Sportskeeda in e-sports, 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.
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. It has offerings across the interactive gaming, e-sports and gamified early learning ecosystems. The company owns some of the most recognisable IPs, including WCC and CarromClash in mobile games, Kiddopia in gamified early learning, NODWIN and Sportskeeda in e-sports and e-sports media, and Halaplay and Qunami in skill-based, fantasy and trivia games.