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Nazara raising $108 Mn led by SBI MF; market cap reaches $1 Bn

EntrackrEntrackr · 10m ago
Nazara raising $108 Mn led by SBI MF; market cap reaches $1 Bn
Medial

Gaming firm Nazara is raising Rs 900 crore (approximately $108 million) in a funding round led by SBI Mutual Fund, with participation from Juno Moneta Finsol, Think India Opportunities Fund, Discovery Global, and others. Nazara’s board has approved a resolution to issue 94,31,294 equity shares at an issue price of Rs 954.27 each, raising Rs 900 crore ($108 million), according to its disclosure filed with the National Stock Exchange (NSE). SBI Mutual Fund led the round with Rs 220 crore while Juno Moneta Finsol and Think India Opportunities Fund contributed Rs 150 crore each. Caratlane co-founders Siddharth and Mithun Sacheti also participated with Rs 155 crore. The remaining funds came from Discovery Global, Cohesion MK, Chartered Finance, Ratnabali Investment, Meenakshi Mercantiles, and Aamara Capital. The preferential allotment is subject to shareholder approval, with the meeting scheduled for October 12, according to the filing. In a separate strategic move, Nazara has acquired an additional 19.35% stake in Absolute Sports, the parent company of Sportskeeda, for Rs 145.47 crore. Of this amount, Rs 72.73 crore will be paid in cash, while the rest will be through a share swap of Nazara’s shares. After this transaction, Nazara will hold a 91.03% stake in Absolute Sports. In the past few months, Absolute Sports acquired assets of SoapCentral.com and DeltiasGaming. The company reached its 52-week high today at Rs 1,098 and ended the day trading at Rs 1,095. According to Entrackr‘s estimates, Nazara’s overall market capitalization stands at Rs 8,381 crore as of September 18.

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Related News

Zepto to raise $500 Mn at $7 Bn valuation: Report

EntrackrEntrackr · 23d ago
Zepto to raise $500 Mn at $7 Bn valuation: Report
Medial

Zepto to raise $500 Mn at $7 Bn valuation: Report Quick commerce firm Zepto is in advanced talks to raise $500 million in a new funding round led by existing backers General Catalyst, Avenir, and others, according to a Moneycontrol report. The round is expected to value the Mumbai-based startup at around $7 billion, a significant jump from its previous valuation of $5 billion when it raised $350 million in November 2024. In total, the Aadit Palicha-led company raised $1.35 billion in 2024. This development comes shortly after Zepto postponed its planned initial public offering (IPO) to 2026. The company had already completed its reverse flip to India in January this year. Zepto is currently prioritizing lower cash burn and stronger profitability ahead of its public listing. In response to rising operational costs, the company has temporarily shut down its food service arm, Zepto Cafe, in several smaller North Indian cities such as Agra, Chandigarh, Meerut, Mohali, and Amritsar. Zepto is also facing strong competition from rivals including Blinkit and Swiggy. According to an ICICI Securities report, Blinkit and Swiggy Instamart surged ahead in Q1 FY26, expanding gross order value by over 25% and 22%, respectively. The duo outperformed the overall quick-commerce sector’s sub-20% growth. In April, Palicha said the company is approaching an annualized Gross Order Value (GOV) of $4 billion. According to him, Zepto scaled from $1 billion to $3 billion in GOV within eight months, reflecting around 300% year-on-year growth and a 30% increase since January 2025. Recently, Palicha added that a majority of Zepto's dark stores are expected to become fully EBITDA-positive in the next quarter. Earlier this year, it closed a $665 million Series F round followed by a $340 million top-up, raising over $1 billion in 2024 alone. Zepto claims a majority of its dark stores have turned EBITDA positive, with deeper expansion planned across metros and Tier II/III cities. The upcoming funding is likely to support operational scale, enhance its tech stack, and sharpen its supply chain efficiencies. While earlier reports suggested a delayed IPO timeline, Zepto has clarified it is targeting a late-2025 to early-2026 window, contingent on market conditions. The company is also said to be aligning its cap table to include more domestic investors in preparation for a potential India listing. Founded in 2021, Zepto competes with Blinkit, Swiggy Instamart, and BigBasket in India’s fast-evolving quick commerce space.

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