Nazara Technologies To Raise Up To ₹410 Cr from SBI Mutual Fund

Mumbai-headquartered diversified online gaming platform Nazara Technologies announced that its board has approved an issue of equity shares with face value of ₹ 4 each to raise up to ₹ 410 crore from SBI Mutual Fund.

In its BSE filimg, Nazara Technologies said, "The Board of Directors of Nazara Technologies Limited has considered and approved issuance of the 57,42,296 fully paid up equity shares of the Company having face value of Rs. 4/- each ("Equity Shares”) in addition to the already approved issuance of up to 14,00,560 fully paid up Equity Shares by the Board of Directors at its meeting held on September 4, 2023, both together aggregating to an amount not exceeding Rs. 510 crores."

Founded in 1999, by Nitish Mittersain, Nazara Technologies offers various interactive gaming options, eSports, ad-tech, and gamified early learning ecosystems.

Earlier this year in February, Nazara participated in Web3 gaming platform Kratos Studios' seed funding round of 160 Crore. Kratos Studios is co-founded by former CEO of Nazara Technologies.

Last year in May, 2022, Nazara set up its subsidiary Sportskeeda Inc. in Delaware, US. Sportskeeda was acquired by Nazara in 2019 and in the same month, it partnered with Dream11 to produce 8 long-format videos showcasing 8 unsung heroes who have made significant contributions to cricket and supporting many people.

Nazara Technologies has presence in India and across emerging & developed global markets such as Africa and North America, with offerings across the interactive gaming, eSports, , ad-tech and gamified early learning ecosystems.

Nazara owns some of the most recognisable IP, including WCC and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin and Sportskeeda in eSports and eSports media, and Halaplay Technologies Private Limited (“Halaplay”), Openplay Technologies Private (“Openplay”) in skill-based, fantasy and trivia games. 


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