Nazara To Raise ₹733 Cr Via Preferential Issue To Fund Acquisitions, Growth
Gaming major Nazara Technologies has approved raising up to ₹733.5 Cr through a preferential issue of equity shares to fund…
Gaming company Nazara Technologies has authorized the issuance of up to ₹733.5 crore through a preferential share allocation. The objective is to finance strategic acquisitions, expand its gaming offerings, and invest in AI-driven game development. The board's decision grants approval for the issuance of up to 2.39 crore equity shares, each priced at ₹306.
The funds will be entirely acquired by the founders and senior leadership team of Bluetile Games and BestPlay Systems, entities acquired by Nazara earlier this year. The company's investment signifies the investors' belief in its long-term growth strategy. The incoming CEO, Raymond Albaladejo Stauffer, plans to invest around ₹583.5 crore as part of the issue, positioning him as a substantial individual shareholder. His appointment as CEO is set to commence on September 1.
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