Nazara Technologies Raises Rs 855 Cr Through Preferential Issue

Nazara Technologies has successfully raised Rs 855 crore (approximately USD 100 million) through a preferential issue, with the allotment approved by its board on 27 November 2024. The company stated in a stock exchange filing that the funds will be used to drive Nazara's expansion in the gaming and sports media sectors. The BSE and NSE have granted in-principle approval for the allotment, with final approvals for listing and trading expected soon.

The fundraising round was led by SBI Innovative Opportunities Fund, which subscribed Rs 220 crore for over 23 lakh shares. Other significant investors include Junomoneta Finsol Private Limited and Think India Opportunities Master Fund LP, each contributing Rs 150 crore. Individual investors Siddhartha Sacheti and Mithun Padam Sacheti each invested Rs 75 crore.

Notable smaller investors included Cohesion MK Best Ideas Sub-Trust, Chartered Finance & Leasing Limited, and Discovery Global Opportunity (Mauritius) Ltd. As a result of this allotment, Nazara’s paid-up equity share capital has increased from Rs 30.62 crore to Rs 34.20 crore.

In its recent Q2 FY25 report, Nazara Technologies showed a 7.3 per cent increase in revenue to Rs 318.94 crore and a 10.85 per cent rise in profit to Rs 21.97 crore.