One of India’s top gaming and sports media firms, Nazara Technologies has made a big financial move. The business declared its biggest ever fundraising. The board has authorised a preferred equity issuance to generate ₹900 Crore. This will strengthen the plans of expansion and development of the business.
This action will call for regulatory as well as shareholder clearance. Once approved, it will enable Nazara Technologies to investigate fresh development prospects and fund calculated acquisitions.
Nazara Technologies Funding ₹900 Crore For Development
Several well-known investors will contribute to the ₹ 900 crores financing. Among these players are Think Investments, Junomoneta Finsol, and SBI Mutual Fund. Involved are also other big players are Discovery Investments, Mithun and Siddharth Sacheti, Cohesion Investments, Chartered Finance and Leasing. This action improves Nazara’s financial foundation and helps it to be positioned for long-term development. The business wants to keep growing over the worldwide gaming and sports media spheres.
Nazara Technologies shares issued during this round of funding would be subject to lock-in rules per Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018, claims SEBI rules.
Added Interest In Absolute Sports
Apart from the announcement of fundraising, Nazara has also increased its ownership in Absolute Sports Pvt. LTD., the parent firm of Sportskeeda. Spending ₹145.5 Crore, the business bought a further 19.35% share. Half of the money was paid in cash and the remainder in shares.
With this recent purchase, Nazara now owns 91% of Absolute Sports, so strengthening its impact in the sports media scene. This action enhances the sector-specific leadership of the organisation.
Globally Reach Of Sportskeeda
Absolute Sports has their flagship brand, Sportskeeda. Every month it reaches millions of sports enthusiasts all across. This includes a sizable audience ranking among the top sports platforms in both India and the United States. Absolute Sports has acquired own assets to better diversify. Not too long ago it acquired Deltia’s Gaming, SoapCentral, and Pro Football Network. These additions have enabled Sportskeeda to diversify its entertainment and sports products.
The Ceo Of Nazara Shares His Views
The developments delighted Nitish Mittersain, CEO and Jt MD of Nazara Technologies. He noted that the capacity of Nazara to draw top-notch investors shows their confidence in the long-term direction of the business. Mittersain claims that the ₹900 Crore raised will enable important areas to see faster development. Furthermore strengthening Absolute Sports’ supremacy in sports media is its growing ownership in Sportskeeda. From its early inception years to its worldwide presence in sports media, he commended Absolute Sports’ development.
On his LinkedIn page, Mittersain also shared the company’s achievements, so excite his network.
The Growth Of Nazara’s Empire
Only publicly traded gaming and esports firm Nazara Technologies exists in India. In some of the top gaming and esports brands worldwide, it owns majority share. These are brands that are rather well-known in India, the United States, and other world countries.
Nazara is well-known in the esports scene for owning NODWIN Gaming, the best platform available in India It also owns Sportskeeda and Pro Football Network in the sports media domain.
A Broad Selection Of Products And Services
Nazara has a varied portfolio. It presents gamified learning opportunities such Animal Jam and Kiddopia. Popular World Cricket Championship (WCC) franchise is another property owned by Nazara. The company’s casual games are supplied via agreements with cellular companies in numerous developing countries. Additionally owned by Nazara is the digital ad tech startup Datawrkz. With user acquisition and ad monetising tools, this company helps Nazara’s internal businesses as well as outside clients. Nazara is positioned with its large portfolio to keep expanding in the worldwide gaming and sports media sectors.
Increasing Profile In Poker
Apart from sports and gaming media, Nazara has been funding the poker scene. Not so long ago, the business revealed intentions to pour ₹982 Crore into another major player in the gaming industry, Poker Baazi. This demonstrates the company’s ongoing development into other spheres of the game industry, therefore confirming its hegemony.
Finish
Nazara Technologies keeps expanding and enhancing its visibility in the sports and gaming sectors of media. Nazara is positioned for even more success given recent funding and share growth in Sportskeeda’s parent firm, Absolute Sports. The company’s will to become a worldwide powerhouse is shown by its capacity to draw top investors and execute smart acquisitions. Nazara is well on its way to spread over important gaming and sports sectors with these actions.
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