Nazara Technologies Limited, an India based, diversified gaming and sports media platform today announced that its board has approved an issue of Equity Shares having face value of Rs 4 each, to raise up to Rs 410 crores, on preferential basis, subject to the receipt of approval of the shareholders of the Company and such regulatory / statutory authorities as may be applicable, the company on Thursday announced through an exchange filing.
The Company is proposing to issue 57,42,296 Equity Shares at a price of Rs 714 per Equity Share aggregating to Rs 4,099,999,344 (Issue) to SBI Mutual Fund, by way of preferential issue on private placement basis.
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.
Paid-up Equity Shares
The above 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 September 4, 2023, both together aggregating to an amount not exceeding Rs 510 crores (comprising of the preferential issue approved by the Board on September 4, 2023 and the Issue).
The proposed Issue of Equity Shares shall be subject to lock-in as per the requirement of Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements), Regulations, 2018.
Nitish Mittersain, CEO of Nazara Technologies, said, “Making India the gaming nation of the world has been a long-pursued dream for all of us at Nazara. India’s 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."
Vikash Mittersain, Chairman & MD of Nazara also added ‘Highly respected investors backing Nazara makes me very proud of what we have built and I would like to extend a hearty welcome to SBI Mutual Fund.”
