Nazara Technologies Limited has announced its plan to raise up to ₹495 crore through a preferential allotment of shares. The board of directors approved the issuance of up to 50 lakh fully paid-up equity shares at ₹990 per share, including a premium of ₹986 per share, in its meeting held on January 20, 2025.
The shares will be allotted to Axana Estates LLP, which will hold a 5.4% stake in Nazara Technologies post-allotment. This funding initiative is subject to shareholder and regulatory approvals, with an Extraordinary General Meeting (EGM) scheduled for February 13, 2025.
Key Details of the Preferential Allotment:
- Total Amount to be Raised: ₹495 crore
- Price per Share: ₹990 (including ₹986 premium per share)
- Allottee: Axana Estates LLP, which will hold a 5.4% stake in the company post-allotment.
- Purpose: Strengthen the company’s financial position and invest in strategic opportunities to support long-term growth.
The allotment is subject to shareholder and regulatory approvals, with an Extraordinary General Meeting (EGM) scheduled for February 13, 2025, to seek shareholder consent for this initiative.
Nazara has also outlined plans to expand its investment limit to ₹3,500 crore under Section 186 of the Companies Act, 2013, signaling its intent to bolster its strategic growth initiatives. Additionally, the company announced the acquisition of intellectual property rights for two mobile games, “CATS: Crash Arena Turbo Stars” and “King of Thieves,” for ₹66.59 crore from Zeptolab UK.
This move aims to strengthen Nazara’s presence in the gaming industry while supporting its long-term growth strategies.
