Nazara Technologies saw its shares rise over 2% in early trade following the announcement of strategic investments totaling ₹196 crores. These moves underscore the company’s commitment to expanding its footprint across gaming, entertainment, and education.
In a noteworthy diversification, Nazara acquired a 60% stake in Funky Monkeys Play Centers for ₹43.7 crores, marking its entry into physical entertainment. Funky Monkeys operates 11 indoor play centers for children across India, offering immersive recreational experiences. This acquisition aligns with Nazara’s strategy to blend digital and physical entertainment offerings, according to co-founders Binita Putcha and Sanjay Ghadiali.
The company also ventured into education technology by investing ₹4.2 crores for a 4.7% stake in Learntube.ai, an AI-driven platform catering to over 20 lakh learners with gamified skilling solutions.
Nazara reinforced its existing ventures by allocating ₹64 crores to esports platform Nodwin Gaming and ₹69 crores to make Absolute Sports (Sportskeeda) a wholly-owned subsidiary. Additionally, ₹15 crores will be invested in ad-tech firm Datawrkz to fuel its growth.
The stock opened at ₹1,030.20 and hit a high of ₹1,039.90 in morning trade. The stock is well below its 52-week high of ₹1,117.00, with a low of ₹591.50.
As of 9:24 am, Nazara Technologies shares were trading 2.04% higher at Rs 1,031.20 on the NSE.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
