Gaming co. Nazara Technologies raises Rs.734-Cr via pref issue

Mumbai-based Nazara Technologies has approved a preferential issue of equity shares worth up to INR 733.5 crore. The company plans to issue 23,970,676 equity shares at INR 306 per share, which includes a premium of INR 304 per share.Founded in 2000 by Nitish Mittersain and Vikash Mittersain, Nazara Technologies is a gaming and sports media company. It operates globally across interactive mobile gaming, eSports, gamified early learning and digital ad-tech, with key markets in India, North America and Africa.The shares will be allotted to six investors, namely Raymond Albaladejo Stauffer, Marc Sylvester Schutze, Maxime Loppin, Alexandre Paul Jean Noirot Cosson, Alexander Osou and Hugo Remy Gaston Blavin will collectively hold a 5.87% stake in the company. Raymond Albaladejo Stauffer, who is set to assume the role of chief executive officer on September 1, will receive the largest allotment of 4.67% stake.