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

EntrackrEntrackr · 9m 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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Nazara Technologies raises over $100 Mn via preferential issue

EntrackrEntrackr · 7m ago
Nazara Technologies raises over $100 Mn via preferential issue
Medial

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.

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