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 strategic acquisitions, growth initiatives across its gaming portfolio, and investments in AI-led game development capabilities. 

The company’s board approved issuing up to 2.39 Cr equity shares at ₹306 apiece, aggregating up to ₹733.5 Cr 

The preferential issue will be entirely subscribed by the founders and senior leadership team of Bluetile Games and BestPlay Systems, which Nazara acquired earlier this year. The company said the investment reflects the investors’ confidence in its long-term growth strategy. 

Incoming CEO Raymond Albaladejo Stauffer will invest about ₹583.5 Cr as part of the issue, making him a significant individual shareholder in the company. His appointment as CEO will take effect from September 1.

(The story will be updated soon) 

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