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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.

Nazara’s Absolute Sports acquires TJRWrestling.net and ITRWrestling.com

EntrackrEntrackr · 2m ago
Nazara’s Absolute Sports acquires TJRWrestling.net and ITRWrestling.com
Medial

Absolute Sports, a subsidiary of Nazara Technologies and the parent company of Sportskeeda.com, has signed definitive agreements to acquire TJRWrestling.net and ITRWrestling.com from Titan Insider Digital. The acquisition, valued at $1.25 million (approximately Rs 10.5 crore), is an all-cash asset purchase via Absolute Sports' U.S. subsidiary, Sportskeeda Inc., and is expected to close within 45 days. This acquisition aims to strengthen Sportskeeda's presence in the combat sports segment and expand its reach in the U.S. market. Ajay Pratap Singh, CEO of Absolute Sports, stated that the acquisition aligns with the company's vision to be a leading destination for wrestling content worldwide. TJRWrestling, and ITRWrestling, collectively attract 1.7 million monthly active users and generate 4.6 million monthly pageviews, primarily from North America. In 2024, the two platforms reported combined revenues of $722,000 (approximately Rs 6.1 crore). Nazara has a history of strategic acquisitions to expand its digital media and gaming portfolio. In 2019, it acquired a 67% stake in Sportskeeda for Rs 44 crore. Other acquisitions include Nextwave Multimedia, Nodwin Gaming, Paper Boat Apps (Kiddopia), WildWorks, and a 47.7% stake in Moonshine Technology, the parent company of PokerBaazi, for Rs 832 crore. In 2024, Nazara acquired Comic Con India for Rs 55 crore through its subsidiary Nodwin Gaming and UK's Fusebox Games for $27.2 million. In January 2025, it purchased two mobile games, King of Thieves and CATS: Crash Arena Turbo Stars, from Zeptolab for $7.7 million. Nazara has also set aside $100 million for future mergers and acquisitions to further its global expansion strategy.

Sportskeeda’s parent Absolute Sports acquires assets of SoapCentral.com

EntrackrEntrackr · 1y ago
Sportskeeda’s parent Absolute Sports acquires assets of SoapCentral.com
Medial

Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda.com and ProFootballNetwork.com, is close to acquire all of the assets of SoapCentral.com, a premier source of entertainment content in the US. The transaction is for an all-cash consideration of $1.4 million about Rs 11.6 crore and is expected to be closed in the next 30 days. In CY23, SoapCentral.com had revenues of $621,000 about Rs 5.2 crore. Absolute Sports will use its cash reserves to fund the transaction. This is the second acquisition for Absolute Sports in the US sports media market. Earlier this year, Absolute Sports had acquired a 73.27% stake in US-based Pro Football Network LLC. Absolute Sports, via its flagship brand Sportskeeda, covers sports and esports subjects and serves more than 100 million fans every month. In 2019, Nazara, listed on the stock exchanges, picked up a majority stake in the company, which was then a 10-year old business. With more than an average of 5 million unique monthly active users, Pro Football Network is widely recognized as one of the NFL-focused sports sites in the country. The company already operates SK Pop (Pop-Culture) and has experience scaling entertainment content under the SK-Pop banner. The company expects to unlock synergies with its content scaling and operating playbooks to establish Soap Central as a leading entertainment content destination for fans in the US.

Nazara’s Absolute Sports acquires assets of DeltiasGaming

EntrackrEntrackr · 11m ago
Nazara’s Absolute Sports acquires assets of DeltiasGaming
Medial

Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda.com, has signed an asset purchase agreement to acquire all the assets of DeltiasGaming.com, a premier source of gaming and e-sports content in the US. The transaction is for an all-cash consideration of $900K ( around Rs 7.5 crore) to be paid over one or more tranches and is expected to be closed in the next 45 days. Last month, Nazara Technologies’ mobile gaming arm Next Wave Multimedia acquired the intellectual property rights of Ultimate Teen Patti from Games24X7 for Rs 10 crore. It also announced the acquisition of an additional 48.42% stake in Paper Boat Apps (PBA) from its promoters Anupam and Anshu Dhanuka for a sum of Rs 300 crore. In May, Nazara acquired 100% stake in mobile gaming subsidiary Nextwave Multimedia by buying the remaining 28.12% from founders. DeltiasGaming.com had revenues of $575K (around Rs 4.8 crore) for the twelve-month period ending June 2024. As per Absolute Sports, it will use its cash reserves to fund the transaction. With this acquisition, Absolute Sports aims to deepen its presence in the gaming and esports media publishing sector in the US region. It plans to use Deltia’s Gaming’s user base of almost 1.5 million monthly readers and its long-standing brand equity to establish the group as an authoritative voice in the gaming media space. The acquisition also provides the group access to a large audience on YouTube and popular gaming streaming network Twitch under the Deltia’s Gaming brand.

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