Nazara Technologies Limited (BSE: 543280 | NSE: NAZARA), India’s only publicly listed diversified gaming and sports media company, is making headlines with a series of strategic investments designed to strengthen its foothold in the gaming and entertainment sectors. With a clear vision for the future, Nazara is set to enhance its offerings and expand its reach, catering to a growing audience of gamers and families alike.
Table of Contents
Nazara Technologies Makes Bold Moves: Strategic Investments to Transform Gaming and Entertainment in India
Expanding into Physical Entertainment
In a significant move, Nazara has acquired a 60% stake in Funky Monkeys Play Centers Private Limited for INR 43.7 crores. Funky Monkeys is a leader in indoor soft play centers for children, operating 11 centers across India that provide engaging and interactive play experiences. This acquisition marks Nazara’s entry into the physical entertainment space, complementing its digital offerings.
Co-founders Binita Putcha and Sanjay Ghadiali expressed their enthusiasm about the partnership, stating, “We are excited to join hands with Nazara, whose vision for digital and hybrid entertainment aligns closely with ours. With Nazara’s expertise and resources, we are confident we can scale Funky Monkeys and bring even more joy to children and families across India. We also see synergies with digital IPs owned by Nazara, such as Kiddopia, and will work to maximize these opportunities.”
Investing in Educational Innovation
Nazara is also making strides in the education sector with a INR 4.2 crores investment for a 4.7% stake in Learntube.ai. This AI-powered platform is revolutionizing education through 1:1 interactive and gamified learning, catering to over 2 million learners. Learntube is recognized as the world’s largest personalized learning platform, offering affordable and engaging educational experiences for professional skill development.
Shronit Ladhani, Co-founder of Learntube, highlighted the significance of this collaboration, saying, “Learntube’s partnership with Nazara is a bold step forward in reshaping professional learning and interactive media. We are excited to combine forces to lead innovation on a global scale.”
Strengthening Existing Subsidiaries
In addition to these new investments, Nazara is increasing its shareholding in its existing subsidiaries, committing a total of INR 148 crores to support their growth. This includes:
- Nodwin Gaming: Nazara will invest INR 64 crores through the subscription of Optionally Convertible Preference Shares to bolster Nodwin’s growth. This funding will enhance Nodwin’s intellectual properties (IPs) and expand its presence in emerging markets.
- Absolute Sports (Sportskeeda): Nazara will invest INR 69 crores to purchase shares from the Sportskeeda management, increasing its stake to 100% and making it a wholly owned subsidiary.
- Datawrkz: Nazara has granted in-principle approval for an investment of INR 15 crores in Datawrkz through the subscription of Compulsorily Convertible Cumulative Preference Shares to support ongoing growth.
Commitment to Growth and Innovation
Speaking on these strategic investments, Nitish Mittersain, CEO of Nazara Technologies, stated, “Nazara is committed to building the largest diversified gaming and entertainment platform out of India, and many of our initiatives announced today are geared towards propelling profitable growth in these strategic areas of our interest.”
