Nazara’s Rs 900 Cr Funding Led by SBI MF, Market Cap Hits $1Bn

Nazara Technologies, a leading mobile gaming company, is reportedly in the process of raising a whopping Rs 900 crore, led by SBI Mutual Fund. This preferential issue is said to be subject to shareholders’ approval, a crucial step in the fundraising process. If successful, this move would see Nazara’s market cap soar to an impressive $1 billion, a significant milestone for the company.

In addition to the fundraising news, Nazara has also made headlines for increasing its stake in Absolute, a move that has caught the attention of industry insiders. The company has reportedly upped its stake by 19.35%, bringing its total ownership to 91.03%. This additional investment is said to be worth a staggering Rs 145 crore, further solidifying Nazara’s position in the gaming market.

The news of Nazara’s fundraising efforts and increased stake in Absolute comes as no surprise to industry observers, who have been closely following the company’s growth trajectory in recent years. With a strong focus on mobile gaming and a portfolio of popular titles under its belt, Nazara has positioned itself as a key player in the industry, attracting the attention of investors and stakeholders alike.

The decision to raise Rs 900 crore through a preferential issue led by SBI Mutual Fund speaks volumes about Nazara’s ambitious growth plans and its confidence in the future of the gaming market. By securing this significant amount of funding, the company will be well-equipped to invest in new technologies, expand its portfolio of games, and explore new market opportunities, positioning itself for long-term success in the competitive gaming landscape.

Moreover, Nazara’s move to increase its stake in Absolute demonstrates the company’s commitment to strengthening its position in the market and capitalizing on emerging opportunities. By acquiring a larger share of Absolute, Nazara is not only consolidating its presence in the gaming space but also signaling its intent to further expand its reach and influence in the industry.

The news of Nazara’s fundraising and increased stake in Absolute has generated a buzz in the gaming community, with many industry insiders eagerly awaiting the outcome of these developments. As one of the leading players in the mobile gaming sector, Nazara’s strategic moves are closely watched and analyzed, as they have the potential to shape the future of the industry and set new benchmarks for growth and innovation.

In conclusion, Nazara’s alleged fundraising of Rs 900 crore led by SBI Mutual Fund and its increased stake in Absolute are significant developments that highlight the company’s ambitious growth plans and strategic vision for the future. With these moves, Nazara is poised to strengthen its position in the gaming market, drive innovation, and unlock new opportunities for expansion, setting the stage for continued success in the dynamic and competitive world of mobile gaming.

Just In : Nazara is raising Rs 900 crore led by SBI MF.

The preferential issue is subject to shareholders’ approval.

With this, its market cap touched $1Bn.

It also increased its stake in Absolute by 19.35% to 91.03%. The additional stake is worth Rs 145 crore.

— Kunal Manchanda (@Kunal_POV) September 18, 2024

Who is Nazara and What is the News?

Nazara Technologies Limited, a leading interactive gaming company in India, has recently made headlines by announcing a massive fundraising of Rs 900 crore. This funding round is being led by SBI Mutual Fund, showcasing the confidence that institutional investors have in the company’s growth prospects. The preferential issue of shares is subject to shareholders’ approval, highlighting the transparent and regulatory process that Nazara is following in its fundraising efforts.

How Did Nazara’s Market Cap Reach $1 Billion?

With this latest fundraising round, Nazara’s market capitalization has touched the significant milestone of $1 billion. This achievement is a testament to the company’s strong business fundamentals, robust growth trajectory, and the overall potential of the gaming industry in India. The market cap milestone also signals to investors and industry stakeholders that Nazara is a key player to watch in the dynamic and evolving gaming landscape.

What is Nazara’s Increased Stake in Absolute and Why?

In addition to the fundraising news, Nazara has also increased its stake in Absolute, a strategic move that demonstrates the company’s commitment to expanding its presence and influence in the gaming sector. The additional stake of 19.35% brings Nazara’s total ownership in Absolute to 91.03%, solidifying its position as a majority shareholder in the company. This increased stake is worth Rs 145 crore, further underlining Nazara’s confidence in Absolute’s growth potential and its strategic importance in Nazara’s overall business strategy.

As Nazara continues to make strategic investments and partnerships to strengthen its position in the gaming industry, the company is poised for further growth and success in the coming years. With a clear focus on innovation, market expansion, and delivering high-quality gaming experiences to consumers, Nazara is well-positioned to capitalize on the immense opportunities in the gaming market.

In conclusion, Nazara’s recent fundraising, market cap milestone, and increased stake in Absolute are significant developments that underscore the company’s strong growth trajectory and strategic vision. As the gaming industry in India and globally continues to evolve and expand, Nazara is at the forefront of driving innovation, creating value for shareholders, and shaping the future of interactive entertainment. With a solid foundation, a clear strategic direction, and a track record of success, Nazara is set to achieve even greater heights in the years to come.

Sources:
– Kunal Manchanda’s tweet on Twitter