Get All Access for $5/mo

Nazara Technologies Acquires 47.7% Stake in PokerBaazi's Parent Moonshine Technology for INR 982 Cr Nazara Technologies has made strategic acquisitions in six startups since FY25, including e-sports startup STAN, Fusebox Games, Paper Boat Apps, and assets of DeltiasGaming, strengthening its gaming portfolio.

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Nitish Mittersain, CEO of Nazara Technologies

Nazara Technologies has announced an investment of INR 982 crore in Moonshine Technology, the parent company of PokerBaazi, to acquire a major stake. The deal involves a mix of secondary and primary share purchases.

Initially, Nazara will acquire a 47.7% stake in Moonshine Technology for INR 831.5 crore through a secondary transaction. This stake will be purchased from existing shareholders, including Navkiran Singh, co-founders Puneet Singh, Varun Ganjoo, Avneet Rana, Anirudh Chaudhry, and private equity firm Bellerive Capital, among others.

Out of the total INR 831.5 crore, INR 592.26 crore will be paid in cash, while INR 239.25 crore will be settled through a share swap, giving Nazara a 3.17% stake in the company. Additionally, Nazara will invest INR 150 crore in purchasing primary shares of Moonshine Technology, which will make it the majority stakeholder in PokerBaazi.

This acquisition is expected to bolster Nazara's position in the online skill-based gaming sector. According to Nitish Mittersain, CEO of Nazara Technologies, this strategic move is part of the company's larger ambition to become India's leading diversified gaming platform.

"PokerBaazi has not only emerged as the undisputed leader in online poker gaming in India but has also set new standards in user engagement, innovation, and overall experience. We're excited to join forces with Navkiran, Puneet, and the entire Moonshine team, whose vision and leadership have been instrumental in shaping the poker landscape in India. Together, we look forward to driving growth in this space and taking Indian gaming to new heights, both domestically and globally," said Mittersain.

Nazara Technologies has been active in acquiring or investing in gaming startups. In the past few months, it has acquired stakes in six companies, including a 15.86% stake in e-sports startup Stan and UK-based Fusebox Games for USD 27.2 million. Nazara has also acquired Kiddopia's developer Paper Boat Apps and other gaming assets.

Founded by Navkiran Singh in 2014, Moonshine Technology initially focused on online poker with PokerBaazi before expanding into card games, fantasy sports, and spectator gaming with platforms like CardBaazi and SportsBaazi.

"As the Indian gaming sector continues to grow, we firmly believe that partnering with Nazara Technologies is the right step toward advancing the nation's gaming ecosystem. This partnership will also contribute to our aim for global expansion in the gaming space," said Navkiran Singh, who also serves as CEO of Baazi Games.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.
Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Science & Technology

Why Businesses Are Relying on Automation to Survive the Labor Crisis

Robots are revolutionizing industries by addressing labor shortages and enhancing efficiency, while businesses navigate challenges like workforce adaptation and high implementation costs.

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

Leadership

Visionaries or Vague Promises? Why Companies Fail Without Leaders Who See Beyond the Bottom Line

Visionary leaders turn bold ideas into lasting impact by building resilience, clarity and future-ready teams.

Green Entrepreneur®

How Global Business Leaders Can Build a Sustainable Supply Chain

Businesses can build sustainable supply chains by leveraging technology to reduce environmental impact, optimize resources and track emissions while balancing operational efficiency and sustainability goals.

News and Trends

BlueStone Jewellery Files Draft Papers With SEBI, Eyes ₹ 3000 cr Listing

The listing will be with shares with a face value of INR 1 and will consist of a fresh issue of shares close to INR 1,000 crore and an offer for sale (OFS) component of up to 2,39,86,883 equity shares by selling shareholders.