Mumbai-based Nazara Technologies has raised Rs 855 crore (approximately $100 million) through a preferential issue. The board approved the allotment on November 27, 2024, after receiving application funds from eligible investors.
The funds will support Nazara’s expansion in the gaming and sports media sector, the firm informed through a stock exchange filing. The allotment has received in-principle approval from the BSE and NSE, with final listing and trading approvals expected soon.
In September, Nazara’s board approved a resolution for the fundraise.
SBI Innovative Opportunities Fund led the investment with a subscription of Rs 220 crore for over 23 lakh shares. Junomoneta Finsol Private Limited followed with Rs 150 crore for 15.71 lakh shares. Think India Opportunities Master Fund LP also contributed Rs 150 crore, while Siddhartha Sacheti and Mithun Padam Sacheti each invested Rs 75 crore.
Other notable investors include Cohesion MK Best Ideas Sub-Trust with Rs 57 crore, Chartered Finance & Leasing Limited with Rs 38 crore, and Discovery Global Opportunity (Mauritius) Ltd with Rs 35 crore. Smaller contributions came from Ratnabali Investment Private Limited at Rs 35 crore, Meenakshi Mercantiles Limited at Rs 15 crore, and Aamara Capital Private Limited at Rs 5 crore.
According to Nazara, this allotment has increased its paid-up equity share capital from Rs 30.62 crore to Rs 34.20 crore.
In the September quarter (Q2 FY25), Nazara Technologies reported a 7.3% year-on-year increase in revenue to Rs 318.94 crore, while its profit grew by 10.85% to Rs 21.97 crore.
Source: Entrackr : Latest Posts
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