Nazara Technologies Secures INR 220 Cr from SBI Funds Management Under the agreement, Nazara will issue 23.5 lakh equity shares to the SBI fund at a price of INR 954.27 per share, generating a total of INR 219.99 crore.

By BIZ Experiences Staff

You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.

Nitish Mittersain, CEO of Nazara Technologies

Nazara Technologies, a leading gaming and sports media company, has entered into a share subscription agreement with SBI Funds Management under its SBI Innovative Opportunities Fund to raise INR 220 crore. This investment is part of Nazara's larger INR 900 crore capital-raising plan announced last month, aimed at boosting its growth and expanding its business footprint.

Under the agreement, Nazara will issue 23.5 lakh equity shares to the SBI fund at a price of INR 954.27 per share, generating a total of INR 219.99 crore. Overall, the company plans to issue 94.3 lakh fully paid-up equity shares at the same price of INR 954.27 per share to select non-promoter investors. These investors include SBI Innovative Opportunities Fund, Junomoneta Finsol Private Limited, and Caratlane founder Mithun Sacheti, among others.

This fundraising initiative will not only provide Nazara with substantial capital but will also facilitate strategic acquisitions. A portion of the funds will be used to acquire an additional 19.35% stake in Absolute Sports Private Limited, Nazara's subsidiary and the parent company of the popular sports platform Sportskeeda.

The acquisition involves purchasing 41,173 equity shares from existing shareholders Porush Jain and Srinivas Cuddapah for a total consideration of INR 145.47 crore. The deal will be partially paid in cash (INR 72.73 crore) and through a share swap of Nazara's equity shares (INR 72.73 crore).

Once the transaction is complete, Nazara will hold a commanding 91.03% stake in Absolute Sports, further solidifying its position in the rapidly growing sports media and gaming industry.

This strategic move follows Nazara's continuous efforts to strengthen its presence in the gaming and sports sectors, with support from key investors and a focus on expanding its product offerings.
BIZ Experiences Staff

BIZ Experiences Staff

Editor

For more than 30 years, BIZ Experiences has set the course for success for millions of BIZ Experiencess and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.

Most Popular

See all
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for BIZ Experiencess to pursue in 2025.

By Eve Gumpel
Science & Technology

OpenAI's Latest Move Is a Game Changer — Here's How Smart Solopreneurs Are Turning It Into Profit

OpenAI's latest AI tool acts like a full-time assistant, helping solopreneurs save time, find leads and grow their business without hiring.

By Ben Angel
Science & Technology

AI Isn't Plug-and-Play — You Need a Strategy. Here's Your Guide to Building One.

Don't just "add AI" — build a strategy. This guide helps founders avoid common pitfalls and create a step-by-step roadmap to harness real value from AI.

By Nicholas Leighton
Business News

Here's How Much Google Software Engineers, Product Managers, and Data Scientists Make in a Year

Data revealed in federal filings shows how much Google is compensating its employees.

By Sherin Shibu
Starting a Business

I Built a $20 Million Company by Age 22 While Still in College. Here's How I Did It and What I Learned Along the Way.

Wealth-building in your early twenties isn't about playing it safe; it's about exploiting the one time in life when having nothing to lose gives you everything to gain.

By Emil Barr
Business Solutions

Boost Team Productivity and Security With Windows 11 Pro, Now $15 for Life

Ideal for BIZ Experiencess and small-business owners who are looking to streamline their PC setup.

By BIZ Experiences Store