Nazara completes Rs 855 crore fundraise led by SBI Mutual Fund
Online gaming company Nazara Technologies has raised Rs 855 crore (around $100 million) through a preferential issue of over 89 lakh fully paid equity shares to a group of investors.
The funding was led by SBI Mutual Fund, which invested Rs 220 crore, with participation from notable investors such as Junomoneta Finsol (an associate of Plutus Wealth), Think Investments, Discovery Investments, CaratLane founder Mithun Sacheti, Jaipur Gems CEO Siddhartha Sacheti, Cohesion Investments, Chartered Finance and Leasing, Ratnabali Investments, and Aamara Capital.
The fundraising, approved by Nazara’s board in September, increased the company’s paid-up equity share capital from Rs 30.6 crore to Rs 34.2 crore.
The company plans to use the capital infusion to drive strategic acquisitions, expand its business, and enhance its ability to seize new growth opportunities. It also aimed to acquire an additional 19.35% stake in Absolute Sports, the parent company of the sports news website Sportskeeda, increasing its ownership in the subsidiary to 91%.
“Nazara successfully closes its Rs 855 crore funding round onboarding marquee investors,” Nitish Mittersain, CEO and joint managing director of Nazara Technologies said in a post on microblogging site X.
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