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Nazara Technologies has raised INR 500 crore through a preferential issue of warrants, subject to shareholder and regulatory approvals.
The Mumbai-based gaming and sports media company said each warrant will be convertible into one equity share at an issue price of INR 260 per share, which is at a premium to the current market price.
The fundraise has attracted participation from a mix of institutional and existing investors, including Riambel Capital PCC, a SEBI-registered Category I Foreign Portfolio Investor, S Gupta Family Investments, Plutus Investment and Holding Private Limited from the promoter group, Classic Enterprises, and Founders Collective. The involvement of the promoter group at the same issue price is seen as an indication of continued confidence in the company’s long-term plans.
Nazara said the proceeds will primarily be used to support strategic acquisitions and expand its existing business verticals. This includes recently announced transactions such as Bluetile and BestPlay, alongside broader growth initiatives across its gaming, esports, and digital media operations.
Nitish Mittersain, Joint Managing Director and CEO of Nazara Technologies, said, “This INR 500 crore fundraise comes at an important phase in Nazara’s journey as we execute on our most ambitious growth initiatives, including the Bluetile and BestPlay acquisition. This fresh capital, combined with our acquisition strategy, positions Nazara to build globally scalable, AI-enabled gaming businesses and further strengthen our leadership in the sector.”
Founded in Mumbai, Nazara Technologies operates across mobile gaming, esports, early learning, and sports media, with a presence in India, North America, and other international markets.
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