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Nazara Technologies Secures $100 Million Through Preferential Allotment

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Mumbai-based gaming and sports media company, Nazara Technologies, has successfully raised Rs 855 crore (approximately $100 million) through a preferential issue. The board approved the allotment on November 27, 2024, after receiving funds from eligible investors.

The raised capital will drive Nazara’s growth and expansion within the gaming and sports media sector, as stated in its stock exchange filing. The allotment has received initial approval from BSE and NSE, with final listing and trading approvals anticipated soon.

This funding round was initiated following a resolution passed by Nazara’s board in September 2024. Leading the investment was SBI Innovative Opportunities Fund, which subscribed Rs 220 crore for over 23 lakh shares. Junomoneta Finsol Private Limited invested Rs 150 crore for 15.71 lakh shares, while Think India Opportunities Master Fund LP also contributed Rs 150 crore. Individual investors Siddhartha Sacheti and Mithun Padam Sacheti each committed Rs 75 crore.

Additional investors included Cohesion MK Best Ideas Sub-Trust with Rs 57 crore, Chartered Finance & Leasing Limited with Rs 38 crore, and Discovery Global Opportunity (Mauritius) Ltd with Rs 35 crore. Ratnabali Investment Private Limited and Meenakshi Mercantiles Limited invested Rs 35 crore and Rs 15 crore, respectively, while Aamara Capital Private Limited contributed Rs 5 crore.

This fundraising effort has increased Nazara’s paid-up equity share capital from Rs 30.62 crore to Rs 34.20 crore.

In its Q2 FY25 results, Nazara Technologies reported a year-on-year revenue increase of 7.3%, reaching Rs 318.94 crore, alongside a 10.85% rise in profit to Rs 21.97 crore.

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