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Nazara invests Rs 196 Cr in five firms including Funky Monkeys Play

EntrackrEntrackr · 8m ago
Nazara invests Rs 196 Cr in five firms including Funky Monkeys Play
Medial

Nazara Technologies Limited, India's premier listed gaming and esports company, has invested Rs 196 crores in four gaming companies. The company acquired a 60% stake in Funky Monkeys Play for Rs 43.7 crore. This investment in Funky Monkeys Play is aimed to expand Nazara’s footprints into physical entertainment. Nazara also invested Rs 4.2 crores in LearnTube.ai, an AI-driven educational platform with over 20 lakh users, to improve gamified learning experiences. The rest of the Rs 148 crore has been allocated to existing subsidiaries, including Nodwin Gaming, Sportskeeda, and Datawrkz at Rs 64 crore, Rs 69 crore and Rs 15 crore, respectively. “These initiatives align with our vision of creating a diversified global gaming and entertainment platform,” said Nitish Mittersain, CEO, Nazara. Nazara continues to dominate India's esports landscape with back to back acquisitions through main and subsidiaries. Recently, Nazara-backed NODWIN Gaming acquired a gaming agency Trinity Gaming for $2.8 million. In October, Nazara' subsidiary Datawrkz acquired a 100% stake in UK-based Space & Time. It also invested Rs 982 crore in PokerBaazi’s parent Moonshine Technology and acquired stakes in e-sports companies such as Stan, Fusebox Games, Kiddopia’s developer Paper Boat Apps, Ultimate Teen Patti, and DeltiasGaming. Last month, the Mumbai-based firm also raised Rs 855 crore (approximately $100 million) through a preferential issue. Nazara’s revenue from operations reported a modest growth of 7.4% Q-o-Q to Rs 319 crore in Q2 FY25 with profits increasing only 2.4% to Rs 21.75 crore in the same period. Before the market closed on Monday, the company’s shares were trading at Rs 1,012, with a total market capitalization of Rs 7,747 crore (approximately $922 million).

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Nazara acquires UK-based game publisher Curve Games for Rs 247 Cr

EntrackrEntrackr · 3m ago
Nazara acquires UK-based game publisher Curve Games for Rs 247 Cr
Medial

Nazara Technologies has announced the acquisition of 100% ownership in Curve Digital Entertainment Limited, a UK-based publisher of PC and console games, for Rs 247 crore ($29 million). The deal is being executed through its wholly owned subsidiary, Nazara Technologies UK Ltd, the company informed in a stock exchange filing on Tuesday. CDEL, a leading video game publisher for console and PC platforms, will become a step-down subsidiary of Nazara following the transaction. The deal also includes Curve’s six subsidiaries, such as Kuju Ltd, Runner Duck Games, and IronOak Games, which will be integrated into Nazara’s portfolio upon completion. CDEL is being acquired from Catalis Group, a UK-based media and entertainment company that owns a portfolio of interactive entertainment and QA/testing firms. The acquisition aligns with Nazara’s strategy to expand its footprint in premium game publishing globally. With a strong lineup of original IPs and a proven track record, Curve reported revenues of Rs 263.5 crore and EBITDA of GBP 10.6 million (approximately Rs 120 crore) in CY24. The acquisition is expected to strengthen Nazara’s presence in key gaming markets, including the US, UK, Japan, and South Korea. According to Nazara, the transaction will be funded through intra-group debt and is expected to close within 45 days, subject to regulatory clearances and other customary conditions. Recently, Absolute Sports, a subsidiary of Nazara Technologies and the parent company of Sportskeeda.com, signed definitive agreements to acquire TJRWrestling.net and ITRWrestling.com from Titan Insider Digital. In January 2025, it purchased two mobile games, King of Thieves and CATS: Crash Arena Turbo Stars, from Zeptolab for USD 7.7 million. Nazara has also set aside $100 million for future mergers and acquisitions to further its global expansion strategy. While Nazara has yet to file its Q4 FY25 results, its operating revenue rose by 67% to Rs 535 crore in Q3 FY25 from Rs 320 crore in Q3 FY24. During the period, the company’s profit fell by 53.6% year-on-year to Rs 13.7 crore.

Five year old Eloelo reports zero revenue and Rs 99 Cr loss in FY24

EntrackrEntrackr · 4m ago
Five year old Eloelo reports zero revenue and Rs 99 Cr loss in FY24
Medial

Five-year-old Eloelo reports zero revenue and Rs 99 Cr loss in FY24 Venture capital firm, Play Ventures backed five-year-old company remained in the pre-revenue stage until March 2024 (FY24) while continuing to incur losses. Venture capital firms Play Ventures, along with existing backers Westbridge and Kalaari, have shown strong conviction in the potential of live social entertainment startup Eloelo. Together, they have infused $50 million into the company, including a recent $13 million round. However, the five-year-old firm remained in the pre-revenue stage until March 2024 (FY24) while continuing to incur losses. While the company posted zero operating revenue during FY24, it made Rs 5 crore from interest on fixed deposits, according to the firm’s annual financial statements sourced from the Registrar of Companies (RoC). Eloelo is a social gaming and live streaming platform that brings native activities like tambola, antakshari and musical chairs in live formats with creators hosting games for their community of fans. The Bengaluru-based company spent heavily on marketing to attract and retain users. Advertising and promotional expenses were its largest cost center, accounting for nearly 38.5% of total expenses, more than doubling to Rs 40 crore in FY24 from Rs 17 crore in FY23. Employee benefit expenses also rose 2.4X to Rs 24 crore, while spending on content creators stood at Rs 14 crore. Technology costs amounted to Rs 14 crore, forming over 13% of the overall expenses, while other overheads contributed another Rs 12 crore in FY24. Overall, Eloelo’s total expenses surged 2.3X to Rs 104 crore in FY24 from Rs 45 crore in FY23. Consequently, the company’s net loss widened 2.3X to Rs 99 crore in FY24 compared to the previous fiscal year. The WestBridge-backed firm recorded current assets worth Rs 166 crore in FY24 including Rs 149 crore in cash and bank balance. According to TheKredible, Eloelo has raised a total of $50 million in funding till date, having WaterBridge Ventures as its lead investors. The company’s co-founders Saurabh Pandey and Akshay Dubey together own 20% of the company.

CCI approves majority stake acquisition in Nazara by Mithun Sacheti’s Axana and others

EntrackrEntrackr · 3m ago
CCI approves majority stake acquisition in Nazara by Mithun Sacheti’s Axana and others
Medial

The Competition Commission of India (CCI) on Tuesday approved the acquisition of a majority stake and control over Nazara Technologies Limited by Axana Estates LLP, Plutus Wealth Management LLP, and Junomoneta Finsol Private Limited. In January this year, Axana Estates, Plutus Wealth Management, and Junomoneta Finsol had made an open offer to acquire up to a 26% stake in Nazara Technologies from its stakeholders. In the same month, the Mumbai-based company also raised $60 million led by Axana Estates against a 5.4% stake. Axana Estates LLP lists Arpit Khandelwal and Mithun Sacheti as its designated partners. Khandelwal is the founder and managing partner of Plutus Wealth Management, while Sacheti is the founder of CaratLane, now owned by Titan. Both Khandelwal and Plutus Investments hold stakes in Junomoneta. Plutus Wealth entities previously held a 13.3% stake in Nazara. Following this transaction, Axana Estates and Plutus Wealth will collectively hold a 27.2% stake in the 26-year-old company. As of March 2025, Nazara founder Nitish Mittersain holds an 8.75% stake in the company along with Mitter Infotech, while Plutus Wealth Management and Arpit Khandelwal command 11.54% and 7.87%, respectively. SBI Mutual Fund and Rekha Jhunjhunwala (on behalf of the late Rakesh Jhunjhunwala) hold 8.52% and 7.06% shares, respectively, in the company. In November last year, Nazara raised $100 million through a preferential issue for expansion in the gaming and sports media sector. Since then, the company and its subsidiaries have acquired majority stakes in multiple gaming firms such as Curve Games, TJRWrestling, ITRWrestling, King of Thieves and CATS, Trinity Gaming, and Funky Monkey. Although Nazara has not yet released its Q4 FY25 results, its operating revenue surged 67% in Q3 FY25 to Rs 535 crore from Rs 320 crore in Q3 FY24. However, its profit declined 53.6% year-on-year during the same period to Rs 13.7 crore. On Wednesday, Nazara founder Nitish Mittersain revealed that the company will have Rs 700 crore in cash on its balance sheet. Moreover, Nazara also secured the rights to Bigg Boss in India and plans to launch the game in the coming months. The company is currently trading at Rs 1,279 (as of 12:30 PM) with a total market capitalization of Rs 11,229 crore or approximately $1.3 billion.

Nazara posts Rs 520 Cr revenue and Rs 4 Cr PAT in Q4 FY25

EntrackrEntrackr · 3m ago
Nazara posts Rs 520 Cr revenue and Rs 4 Cr PAT in Q4 FY25
Medial

Nazara posts Rs 520 Cr revenue and Rs 4 Cr PAT in Q4 FY25 Gaming and sports media firm Nazara Technologies reported a 95% year-on-year rise in operating revenue for Q4 FY25. However, the Mumbai-based company’s profit remained modest at Rs 4 crore in the final quarter of the previous fiscal year. Nazara’s operating revenue rose by 95.3% to Rs 520 crore in Q4 FY25 from Rs 266 crore in Q4 FY24, according to its audited consolidated financial statements sourced from the National Stock Exchange (NSE). E-sports accounted for 41.5% (Rs 216 crore) of the company’s total operating revenue, while the gaming segment held a 30% share (Rs 156 crore), followed by ad tech, which contributed 28% (Rs 148 crore). Nazara also earned Rs 18 crore from interest and gains on financial assets during the quarter, bringing its overall revenue to Rs 539 crore. However, the company posted a 40.8% YoY increase in its total income to Rs 1,715 crore in FY25, compared to Rs 1,218 crore in FY24. On the line of scale, Nazara’s total expenses surged by 85.3% to Rs 528 crore in Q4 FY25, compared to Rs 285 crore in the same quarter last year. Content and commission costs together stood at Rs 186 crore, while employee benefit expenses rose to Rs 80 crore. Notably, marketing expenses saw a sharp 3.5X jump, reaching Rs 151 crore in Q4 FY25. Despite a 95% year-on-year revenue growth in Q4, the company’s profit remained flat at Rs 4 crore in Q4 FY25. For the full fiscal year, its net profit declined to Rs 51 crore in FY25 from Rs 74.7 crore in FY24. Last week, the Competition Commission of India (CCI) also approved the acquisition of a majority stake and control over Nazara Technologies Limited by Axana Estates LLP, Plutus Wealth Management LLP, and Junomoneta Finsol Private Limited. Nazara is currently trading at Rs 1,270 (as of 03.41 PM) with a total market capitalization of Rs 11,127 crore (approximately $1.3 billion).

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