Nazara Technologies Secures INR 855 Cr in Preferential Issue for Expansion The allotment has received in-principle approval from both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with final approvals for listing and trading expected shortly.
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Mumbai-based Nazara Technologies has raised INR 855 crore (approximately USD 100 million) through a preferential issue to accelerate its growth in the gaming and sports media sectors.
The board approved the allotment on November 27, 2024, following the receipt of application funds from eligible investors.
The allotment has received in-principle approval from both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with final approvals for listing and trading expected shortly.
The fundraising process began in September, when Nazara's board authorised the initiative.
SBI Innovative Opportunities Fund led the investment with INR 220 crore, subscribing to over 23 lakh shares. Junomoneta Finsol Private Limited followed with INR 150 crore for 15.71 lakh shares, while Think India Opportunities Master Fund LP also contributed INR 150 crore.
Other investors included Siddhartha Sacheti and Mithun Padam Sacheti, each investing INR 75 crore. Additional contributions came from entities like Cohesion MK Best Ideas Sub-Trust (INR 57 crore), Chartered Finance & Leasing Limited (INR 38 crore), and Discovery Global Opportunity (Mauritius) Ltd (INR 35 crore).
This funding has resulted in an increase in Nazara's paid-up equity share capital from INR 30.62 crore to INR 34.20 crore.
In its latest financial results for Q2 FY25, Nazara reported 7.3% year-on-year growth in revenue to INR 318.94 crore, with a profit increase of 10.85% to INR 21.97 crore, further highlighting the company's growth trajectory in the competitive gaming sector.
