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Nazara raises Rs.315-Cr from GIC, Plutus Wealth

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Publicly listed gaming company Nazara Technologies Limited is to make a preferential allotment of fresh equity to raise INR 315.30 crores from Gamnat Pte Ltd. (a unit of Singapore government owned GIC) and Plutus Wealth Management LLP . The company will issue 1,429,266 equity shares at INR 2,206 per share. Gamnat will subscribe to 11,77,680 shares while Plutus Wealth Management which currently holds 6.57% stake will subscribe to 2,51,586 shares. Post the allotment, Gamnat and Plutus Wealth Management will hold 3.62% and 6.92% stake in the company respectively. This infusion of fresh funds will be utilized to invest in growth initiatives of the company as well as pursue strategic acquisitions in the various business verticals of the company including gamified learning, freemium, skill based real money gaming and esports as the company continues to expand its “Friends of Nazara” ecosystem. The “Friends of Nazara” network comprises of established gaming companies in which Nazara holds majority stakes and works actively with existing founders and management teams to rapidly achieve scale.