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Gaming firm Nazara Technologies raises Rs 250 crore in funding from ICICI Prudential, Nikhil Kamath
Economic Times
·
1y ago
Medial
Gaming firm Nazara Technologies has raised Rs 250 crore in funding from existing investors, including ICICI Prudential and Zerodha co-founder Nikhil Kamath. The funding was part of an overall Rs 750 crore fundraise approved by Nazara's board last year. Nazara also acquired a minority stake in influencer marketing firm Kofluence Tech. The company plans to invest in game publishing and has already launched Nazara Publishing.
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Nazara allots ₹100-crore shares to Zerodha's Kamath brothers
Inshorts
·
1y ago
Medial
Nazara Technologies, in a regulatory filing, announced its board has approved the allotment of shares worth around ₹250 crore to seven investors. Two firms associated with Zerodha founders Nithin and Nikhil Kamath have been allotted shares worth ₹100 crore, the filing showed. Plutus Wealth Management and three ICICI Prudential-related funds are among the other investors.
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Nazara Sets Aside $100 Mn For M&A To Expand Global Footprint
Inc42
·
1y ago
Medial
Indian gaming major Nazara Technologies has announced that it plans to allocate $100 million towards mergers and acquisitions (M&A) over the next two years to strengthen its global foothold. The company recently raised $90 million through a preferential allotment, with investors including Nikhil Kamath and ICICI Prudential MF, among others. Nazara is particularly interested in opportunities in gaming, esports, adtech, and emerging technologies like Web3, virtual reality, and AI. The company has had success with its "acquire and scale" strategy, having acquired companies such as Sportskeeda, Nodwin Gaming, and Kiddopia.
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Gaming, e-sports to grow much bigger in 10 years: Nikhil Kamath
Money Control
·
1y ago
Medial
Zerodha Co-founder Nikhil Kamath said the gaming and e-sports industry will grow much bigger in the next 10 years. "[It] will grow at a pace faster than the old-school content," Kamath stated. His remarks come as gaming company Nazara Technologies announced it'd issue shares worth ₹100 crore to Zerodha's founders Nikhil and Nithin Kamath.
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Nazara Tech raises Rs 410 crore from SBI Mutual Fund
Economic Times
·
1y ago
Medial
Nazara Technologies is raising Rs 410 crore from SBI Mutual Fund, just days after securing Rs 100 crore from Nikhil Kamath, co-founder of Zerodha. The company's board approved the issuance of 5.7 million equity shares at Rs 714 per share to SBI Mutual Fund. The funds will be invested through three schemes: SBI Multicap Fund, SBI Magnum Global Fund, and SBI Technology Opportunities Fund. Nazara aims to further its goal of making India a global gaming leader with this investment.
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Nazara Technologies to invest $100 Mn for M&A in next 24 months
Entrackr
·
1y ago
Medial
Nazara Technologies Limited, a gaming and sports media company, has planned to invest $100 million towards mergers and acquisitions (M&A) within the next 24 months. The current plan follows a Rs 760 crore ($90 million) round via a preferential allotment from marquee investors such as Nikhil Kamath, ICICI Prudential MF and Plutus Wealth Management among others. The company will focus on established gaming IP’s, studios and also those advancing in technologies like web3, virtual reality, and AI. “Nazara has seen significant success in its ‘acquire and scale’ strategy over the last few years as can be seen by the post-acquisition growth in Kiddopia, Nodwin Gaming and Sportskeeda among others. The $100 million pledge will further enhance this opportunity for it in that direction. We are particularly focused on investing in and acquiring gaming studios globally with a specific focus on India’s 500 million gamers as well as the large North American market” said Nitish Mittersain, CEO of Nazara Technologies. Nazara’s portfolio companies include, Nodwin Gaming in the esports space, Sportskeeda and Pro Football Network in the sports media space. Nazara’s offerings across the interactive gaming segment include gamified early learning products like Kiddopia and Animal Jam which are global leaders in their respective segments.
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Zerodha Founders To Invest INR 100 Cr In Nazara
Inc42
·
1y ago
Medial
Gaming and sports media platform Nazara Technologies plans to issue 1,400,560 equity shares, valued at INR 714 per share, raising INR 100 crore. The shares will be allotted to firms managed by Zerodha founders Nithin Kamath and Nikhil Kamath. Nazara intends to use the capital for growth initiatives, including potential acquisitions and investments. In FY23, the company reported a net profit of INR 61.4 crore, with a 75% YoY increase in revenue to INR 1,091 crore.
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Zerodha’s Nikhil Kamath Explores Increasing Stake In Nazara
Inc42
·
1y ago
Medial
Nikhil Kamath, the founder of Zerodha, is considering increasing his stake in Nazara Technologies, a mobile gaming and sports media company, to 3.5% from the current 1%. Nazara Technologies plans to secure additional funds and is seeking board approval to raise capital through the issuance of equity shares or securities on a preferential basis. In the fiscal year 2022-23, Nazara Technologies reported a consolidated net profit of INR 61.4 crore and a 75% year-on-year increase in revenue from operations to INR 1,091 crore.
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Nazara Technologies Q2 net profit surges 53%, revenue up 13%
Livemint
·
1y ago
Medial
Nazara Technologies reported a 13% YoY growth in revenue from operations to ₹297.2 crore in the July-September quarter. The company's EBITDA increased by 30% to ₹27.9 crore, with margins rising to 9.4%. The firm recently secured ₹510 crore in fresh capital from investors like Nikhil Kamath and SBI Mutual Fund, and has a cash position of ₹1,300 crore. The company also launched "Nazara Publishing" to offer capital and support services to empower game developers.
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Zerodha's Kamath urges Indian folks to seek gaming career for kids
Internet
·
1y ago
Medial
Zerodha's Nikhil Kamath hosted a conversation on India's gaming scene with industry leaders and gamer Animesh Agarwal on his "WTF is" podcast. They delved into gaming as a career in India, the popularity of PUBG, and earnings of gaming influencers. Kamath's investment in Nazara Technologies reflects his belief in gaming's potential. India expects to create jobs through gaming industry boom.
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Nazara acquires UK based Fusebox Games for $27.2 Mn
Entrackr
·
12m ago
Medial
Gaming and sports media company Nazara Technologies has acquired Fusebox Games Limited, a UK-based gaming studio for Rs 228 crore ($27.2 million) in an all-cash transaction. Fusebox publishes an interactive story game ‘Love Island’ and is developing new games based on popular global TV IPs. In CY23, the company reported revenues of Rs 87.5 crore ($10.4 million) with an EBITDA of Rs 11.7 crore ($1.4 million). During CY24, Fusebox claims to have recorded a strong growth with year-to-date revenues (January- July 2024) at Rs 116.6 crore ($13.9 million) with an EBITDA of ~Rs 33.3 crore ($4 million). Fusebox primarily targets developed markets including the US, the UK, Australia, Canada, Switzerland, Sweden, Denmark, Norway, and New Zealand among others. The company has 30 employees primarily based in the UK. In March, Nazara announced that it has plans to invest $100 million towards mergers and acquisitions within the next 24 months. Since then, it has invested in Circle of Games, and acquired Kiddopia developer Paper Boat Apps. Through its subsidiaries, Nazara also acquired IP rights of Ultimate Teen Patti from Games24x7, and took over assets of Deltias Gaming. Nazara posted Rs 254.43 crore in total revenue with a profit of Rs 17.8 crore in Q1 FY25. For the fiscal year ending March 2024 (FY24), Nazara’s revenue from operations increased 4.3% to Rs 1,138 crore in FY24 from Rs 1,091 crore in FY23. The firm’s controlled cost and spike in other income helped it post a 23% growth in its profit to Rs 75 crore in FY24 from Rs 61 crore in the previous fiscal year. Earlier this year, the Nitish Mittersain-led firm raised Rs 250 crore ($30 million) from Zerodha’s co-founders-backed Kamath Associates & NKSquared, ICICI Securities, Plutus Wealth Management, and others.
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