Nazara Technologies Secures Rs 900 Crore, Increases Stake in Sportskeeda to 91%

Nazara Technologies Secures Rs 900 Crore, Increases Stake in Sportskeeda to 91%

Nazara technology has introduced a preferential fairness difficulty to raise inr 900 crores, pending shareholder and regulatory approvals. This funding could be used for strategic acquisitions, business enlargement, and pursuing new growth opportunities.

The preferential fairness problem amounting to rs 900 crores will enhance nazara’s financial foundation for lengthy-time period expansion. These stocks could be concern to sebi rules and lock-in necessities as in step with chapter v of the sebi (problem of capital and disclosure necessities) policies 2018.

In a parallel development, nazara additionally received an additional 19.35% stake in absolute sports, the figure corporation of sportskeeda, for rs a hundred forty five.5 crores, with 50% of the attention paid in coins and the ultimate quantity in inventory. With this, nazara now holds a 91% ownership stake in absolute sports, solidifying its leadership position within the sports activities media area.

Nitish mittersain, ceo and jt md of nazara technology remarked “nazara has verified its potential to attract pinnacle-tier traders who consider in our lengthy-term vision of setting up india’s first globally reputable gaming powerhouse. This inr 900 crores fundraise can be instrumental in accelerating our growth across key segments. Additionally, increasing our stake to 91% in absolute sports (sportskeeda) reinforces our management inside the sports activities media panorama. The growth of absolute sports, from its early days as a startup to turning into a global media participant, underscores our commitment to helping innovative teams that continuously deliver transformational boom."