New Delhi: Gaming and sports media platform Nazara Technologies announced on Wednesday that its company has raised Rs. Approved the preferred allotment of new shares to raise Rs 315.30 crore. The Rakesh Jhunjhunwala-backed company will be used to invest in infusion development initiatives of new funds and use gamefight learning, freemium, real money gaming based on skills and strategic acquisitions in e-company’s various business sectors. “
In a statement for the transaction, Nassara said, “LLP will issue 14,29,266 shares, valued at Rs.
Manish Agarwal, CEO, Nazara Tech, said, “The investment of such institutional investors will act as a catalyst for Nassara Flywheel to move faster across all business segments, resulting in integrated shareholder value at the parent and subsidiary levels, both organically and organically.”
The gaming and sports media site made a star debut in the exchanges in early March this year.
Rusk Media Pvt. Ltd. has agreed to acquire 1,601 equity shares of Rs.
Nusra notes that Rusk specializes in creating content for Gen-Z and Millennials. Content launch is expected to reach Rs. 7.1 crore, which was 3.4 crore in 2019-20 (FY20).
In addition, Nassara Tech issued a further 6,48,125 equity shares worth Rs 142,97,63,750 crore to Unnadi Management Consultants, the current shareholder of Open Play Technologies Pvt Ltd, to acquire the remaining 76.70% stake.
The ‘Friends of Nazareth’ network includes established gaming companies, in which Nazareth holds a majority stake and is actively working to quickly work with existing founders and management teams.
Shares of the company rose 5.60% to Rs 2,630.80 on Wednesday.