Mumbai: Nazara Technologies’ board has approved a proposal to raise ₹733.5 crore through a preferential issue of equity shares and warrants, as the gaming and sports media company seeks additional capital to support strategic expansion and investment opportunities.
The fundraising, which remains subject to shareholder and statutory approvals, is intended to provide the company with financial flexibility for acquisitions, investments in existing businesses and other general corporate purposes, according to an exchange filing.
The proposed issue will be made to a select group of investors in accordance with the Securities and Exchange Board of India (SEBI) regulations governing preferential allotments. The company has disclosed the terms of the issue, including the proposed allottees, issue price and securities to be issued, in documents circulated to shareholders.
Nazara has called an extraordinary general meeting (EGM) to seek shareholder approval for the transaction. Upon completion of the issue, the proceeds are expected to strengthen the company’s capital base and support its long-term expansion strategy.
The Mumbai-headquartered company has expanded its presence across mobile gaming, esports, interactive entertainment and sports media through a combination of organic investments and acquisitions. Over the past few years, it has deployed capital across multiple businesses to broaden its portfolio and deepen its presence in domestic and overseas markets.
The proposed fundraising comes as companies in India’s digital gaming sector continue to evaluate opportunities for consolidation and expansion amid growing investor interest in interactive entertainment and gaming platforms.
Nazara said the preferential issue is aimed at supporting its next phase of growth while maintaining the financial resources required to pursue strategic opportunities as they arise.
