Mumbai-based gaming and sports media company Nazara Technologies has closed a Rs 855 crore (approximately $100 million) funding round through a preferential issue of shares.
The funds, which will drive the company’s strategic expansion and acquisitions, were approved for allocation by the board on November 27, 2024.
The fundraising round was led by SBI Innovative Opportunities Fund with an investment 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.
Additional investments came from Cohesion MK Best Ideas Sub-Trust, Chartered Finance & Leasing Limited, and Discovery Global Opportunity (Mauritius) Ltd, alongside smaller contributions from Ratnabali Investment Private Limited, Meenakshi Mercantiles Limited, and Aamara Capital Private Limited.
The allotment received in-principle approval from the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), with final approvals for listing and trading anticipated soon.
In the second quarter of FY25, Nazara reported mixed financial results. Revenue from operations grew 7.3% year-over-year to Rs 318.94 crore, supported by a 9.3% increase in gaming revenue and a 5.7% rise in esports revenue.
However, rising operational costs impacted profitability, leading to a 32.8% year-on-year decline in profit to Rs 16.24 crore.
Despite cost pressures, the company noted a 10.85% increase in profit for Q2FY25, reaching Rs 21.97 crore.
Notably, the allotment has increased its paid-up equity share capital from Rs 30.62 crore to Rs 34.20 crore.
Raising special needs children or slow learners comes with unique challenges, but many parents in…
What is a Value Proposition (VP)? Have you ever looked at a company’s website or…
February 01, 2025 marks the presentation of Indian Union Budget for 2025, and we have…
What is GST Compliance? Have you heard about the recent Golgappa Vendor Notice which had…
Have you ever got back home from work tired and exhausted, craving for a steamy…
Is having a Good Product enough? An entrepreneurial journey usually begins with a unique idea.…
This website uses cookies.