Nazara Technologies Raises INR 900 Crores to Accelerate Growth and Expand Sports Media Leadership

Nazara Technologies Limited (BSE: 543280 NSE: NAZARA), India’s leading diversified gaming and sports media company, has announced its largest-ever fundraise to fuel its aggressive growth strategy. The company’s board has approved a preferential equity issue to raise INR 900 crores, pending shareholder and regulatory approvals. This significant capital infusion will drive strategic acquisitions, support business expansion, and position Nazara to seize new growth opportunities.

Key Highlights of Nazara’s Fundraising and Expansion:

1. INR 900 Crores Fundraise with Marquee Investors

Nazara’s INR 900 crore equity issue will be placed with high-profile investors such as SBI Mutual Fund, Junomoneta Finsol, Think Investments, Discovery Investments, and others. This capital will further solidify Nazara’s financial foundation, providing the company with the resources needed to scale and expand. The shares will adhere to SEBI regulations, including lock-in requirements under Chapter V of SEBI’s regulations.

2. Strengthening Stake in Sportskeeda

In parallel with the fundraise, Nazara has increased its stake in Absolute Sports Pvt. Ltd. (the parent company of Sportskeeda) by acquiring an additional 19.35% for INR 145.5 crores. With this, Nazara now holds a commanding 91% ownership in Sportskeeda, reinforcing its leadership in the global sports media landscape. Sportskeeda reaches millions of sports fans across India and the U.S., solidifying its position as a top sports platform.

3. Expanding Global Presence

Nazara’s sports media portfolio continues to grow, with Absolute Sports acquiring Pro Football Network (PFN), SoapCentral, and Deltia’s Gaming. This expansion further diversifies Nazara’s reach across the sports and entertainment industry, catering to a global audience.

CEO Remarks:

Nitish Mittersain, CEO & Joint Managing Director of Nazara Technologies, expressed enthusiasm about the fundraise and the company’s future, saying, “Nazara has always attracted top-tier investors who share our vision of building India’s first globally respected gaming powerhouse. This INR 900 crore fundraise will accelerate our growth across key sectors. Our increased stake in Absolute Sports (Sportskeeda) strengthens our leadership in sports media, highlighting our commitment to supporting innovative teams that deliver exceptional growth.”

FAQs:

1. What is the purpose of Nazara’s INR 900 crore fundraise?

The funds will be used for strategic acquisitions, business expansion, and exploring new growth opportunities.

2. Who are the investors in Nazara’s equity issue?

Investors include SBI Mutual Fund, Junomoneta Finsol, Think Investments, Discovery Investments, and several others.

3. How much stake does Nazara hold in Sportskeeda?

After acquiring an additional 19.35%, Nazara now holds a 91% stake in Absolute Sports, the parent company of Sportskeeda.

4. What is Nazara’s strategy with Sportskeeda?

Nazara aims to grow its presence in the global sports media landscape, expanding Sportskeeda’s reach and content portfolio through strategic acquisitions.

5. When will the equity issue be finalized?

The equity issue is subject to shareholder and regulatory approvals, as per SEBI guidelines.

Nazara Technologies is poised for rapid growth, strengthening its gaming and sports media footprint both in India and globally.

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