Other Deals - Listed Firms
Gaming co. Nazara raises Rs.855-Cr; ups stake in subsidiary Sportskeeda
Publicly listed Nazara Technologies has raised INR 854.99 crore by allotting nearly 90 lakh new shares to investors including SBI Innovative Opportunities Fund, Junomoneta Finsol Pvt Ltd and Think India Opportunities Master Fund LP. CaratLane founder Mithun Sacheti, along with some of his family members, was among the investors.Nazara Technologies had planned to use part of the funds raised to acquire an additional 19.35% stake in its subsidiary, Absolute Sports Pvt Ltd, the owner of the sports platform Sportskeeda. This involves purchasing 41,173 shares from existing shareholders for INR 145.47 crore. The payment was split evenly, with half made in cash and the other half through issuing Nazara's own shares.
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