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Nazara Technologies said that the funds will be invested via three schemes of SBI Mutual Fund namely SBI Multicap Fund, SBI Magnum Global Fund and SBI Technology Opportunities Fund.The aforesaid issue is being made in addition to the issuance of up to 14,00,560 fully paid-up equity shares approved by the board in its meeting held on 4 September 2023, both together aggregating to an amount not exceeding Rs 510 crore (comprising of the preferential issue approved by the board on 4 September 2023 and the issue).Nitish Mittersain, CEO of Nazara Technologies, remarked: Making India the gaming nation of the world has been a long-pursued dream for all of us at Nazara. Indias largest domestic mutual fund investing in Nazara is an important milestone for us in this two-decade long journey. We are very excited to welcome SBI Mutual Fund as our investor.Nazara Technologies is a diversified gaming & sports media platform with presence in India and across emerging & developed global markets such as Africa and North America. It has offerings across the interactive gaming, eSports, ad-tech and gamified early learning ecosystems including World CricketThe companys consolidated net profit jumped 69.6% to Rs 19.50 crore in Q1 FY24 on 14% increase in net sales to Rs 223.10 crore posted in corresponding quarter last year.The scrip fell 1.14% to currently trade at Rs 872.20 on the BSE.

Nazara Tech issues shares worth Rs 410 crore via preferential route to SBI  Mutual Fund

The Board of Nazara Technologies at its meeting held on 07 September 2023 has approved the issuance of 57,42,296 fully paid up equity shares of the Company having face value of Rs. 4each in addition to the already approved issuance of upto 14,00,560 fully paid up Equity Shares by the Board of Directors at its meeting held on 04 September 2023, both together aggregating to an amount not exceeding Rs. 510 crore on a preferential basis (preferential issue) to Kamath Associates (7 lakh shares), NK Squared ( 7 lakh shares), SBI Multicap Fund (28 lakh shares), SBI Magnum Global Fund (16.80 lakh shares) and SBI Technology Opportunities Fund (12.60 lakh shares) (scheme of SBI MF). 

Board of Nazara Technologies approves preferential allotment of shares up to Rs 510 cr 

Nazara Technologies will hold a meeting of the Board of Directors of the Company on 7 September 2023.

Nazara Technologies announces board meeting date

Nazara Technologies announced that the 24th Annual General Meeting (AGM) of the company will be held on 29 September 2023.

Nazara Technologies to conduct AGM

A meeting of the board of directors of Nazara Technologies is scheduled to be held on Thursday, September 7, to consider and if thought fit, approve raising of additional funds from additional investors by issuance of equity shares or securities of the company on a preferential basis.

Nazara Technologies zooms to 52-week high on plans to raise funds

A big focus area for Nazara Technologies is growing its portfolio of gaming IPs through acquisitions in the future.

After Zerodha’s Kamath, Nazara Tech to raise more capital to scale up its verticals, says Nitish Mittersain

The Zerodha co-founder, whose stake in Nazara Technologies is set to rise to 3.5 percent, says gaming and e-sports will grow at a pace faster than old-school content

10 years on, gaming, e-sports will be much bigger, says Nikhil Kamath

The news was cheered by investors. The stock was trading over 11 percent higher at Rs 846 on the National Stock Exchange

Nazara Technologies to raise Rs 100 crore from Nikhil Kamath, stock up over 11%

Nazara Technologies will hold a meeting of the Board of Directors of the Company on 4 September 2023.

Nazara Technologies to hold board meeting

Kamath, who holds around 1 percent in the mobile gaming firm, is looking to take his stake to 3.5 percent in his personal capacity and talks are still on, CNBC-TV18 reported

Zerodha's Nikhil Kamath looking to increase stake in Nazara Technologies

Nazara Technologies Ltd. operates as a mobile entertainment company. It offers mobile games and applications, as well as multimedia solutions, including themes and wallpapers. The firm also provides solutions for the development, deployment, targeting, and tracking of promotional campaigns on mobile platforms; and wireless solutions that integrate content of media companies, marketing messages, and the consumer reach of wireless carriers. The company was founded by Nitish Vikash Mittersain in 1999 and is headquartered in Mumbai, India.

Watchers	164
52-Wk Low	480.35
52-Wk High	929.05

Market Cap	57.81B
Volume (M)	735,022.00
52-Wk High	929.05
52-Wk Low	480.35

NAZARA.NSE Nazara Technologies Ltd

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