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Business Standard
Nazara Tech hits 52-week high after raising Rs 900 cr; to acquire 19% stake in Absolute Sports
Nazara Technologies announced that it has raised Rs 900 crore through preferential issue of equity share at Rs 954.27 per share.
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Thu, Sep 19, 2024
Mint
Nazara Technologies share price retreats from 52-week high amid profit booking
Nazara Technologies shares reached a 52-week high but dropped over 6% due to profit booking. The company plans to raise ₹900 crores through a preferential equity issue to strengthen its financial position and pursue growth opportunities.
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Thu, Sep 19, 2024
Business Standard
Stocks To Watch: ICICI Securities, Nazara, NTPC, AB Capital, Tata Power
NTPC has filed for an IPO of its green energy arm, NTPC Green Energy Ltd, with an aim to raise approximately $1.2 billion (Rs 10,000 crore).
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Thu, Sep 19, 2024
Business Standard
Nazara Tech to raise Rs 900 crore; ups stake in Absolute Sports to 91%
Gaming and sports media company Nazara Technologies on Wednesday said its board has approved a preferential equity issue to raise Rs 900 crore. Nazara also announced increasing its stake in Absolute Sports to 91 per cent. The fresh capital will fuel the firm's strategic acquisitions and business expansion, and provide newer growth opportunities, a company statement said. "The preferential equity issue amounting to INR 900 crores will be placed with marquee investors such as SBI Mutual Fund, Junomoneta Finsol (an associate of Plutus Wealth), Think Investments, Discovery Investments, Mithun and Siddharth Sacheti, Cohesion Investments, Chartered Finance and Leasing, Ratnabali Investments and Aamara Capital, further strengthening Nazara's financial foundation for long-term expansion," it said. Nazara acquired an additional 19.35 per cent stake in Absolute Sports, the parent company of Sportskeeda, for Rs 145.5 crores, with 50 per cent of the consideration paid in cash and the remaining
CNBC TV18
Nazara Technologies raises stake in Sportskeeda parent to over 90% with ₹145.5 crore deal
With this transaction, Nazara's total ownership in Absolute Sports increases to 91%, further solidifying its leadership position in the sports media landscape.
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Wed, Sep 18, 2024
The Economic Times
Amazon’s new India head; Nazara to raise Rs 900 crore
Samir Kumar, an Amazon veteran, will replace Manish Tiwary as the country manager for India. This and more in today’s ETtech Top 5.
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Wed, Sep 18, 2024
Business Standard
Nazara Technologies acquires 19.35% stake in Absolute Sports (Sportskeeda)
For a consideration of Rs 145.5 cr
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Wed, Sep 18, 2024
Business Standard
Nazara Technologies to raise Rs 900 cr via preferential equity issuance
Nazara Technologies announced its largest fund raise to boost its growth trajectory. The company's board has approved a preferential equity issue to raise Rs 900 crore, subject to shareholder and regulatory approvals. This capital infusion will fuel strategic acquisitions, fund business expansion, and enhance the company's ability to seize new growth opportunities.
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Wed, Sep 18, 2024
The Economic Times
Nazara Technologies announced a Rs 900 crore fundraising through preferential equity. The funds will be used for acquisitions, business expansion, and growth opportunities. Marquee investors like SBI Mutual Fund and Think Investments are participating in the round.
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Wed, Sep 18, 2024
The Economic Times
Nazara to raise Rs 900 crore, hikes stake in Absolute Sports to 91%
This is Mumbai-based Nazara's largest fundraise so far. Investors in the round included SBI Mutual Fund, CaratLane founder Mithun Sacheti, Jaipur Gems CEO Siddhartha Sacheti, Cohesion Investments, Chartered Finance and Leasing etc. Additionally, Nazara Technologies acquired a further 19.35% stake in Absolute Sports, taking its total holding to 91%.
Business Standard
Nazara Tech board to mull fund raising on Sep 18
The gaming and sports media firm announced that its board is scheduled to meet on Wednesday, 18 September 2024 to approve fund raising by issuance of equity shares/securities of the company on preferential basis.
Mint
PokerBaazi parent Moonshine’s revenue grows over 50% ahead of Nazara’s ₹982 crore investment
Moonshine Technology reported a combined revenue of ₹414.9 crore for FY24 across its businesses, a substantial 55% increase from FY23’s ₹268 crore
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Fri, Sep 13, 2024
Business Standard
Nazara to acquire PokerBaazi parent Moonshine Technology for Rs 982 cr
PokerBaazi is India's largest online poker platform, contributing over 85% of Moonshine's net revenue, while its fantasy sports platform, SportsBaazi, contributes 12%
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Fri, Sep 13, 2024
Business Standard
Nazara to invest Rs 982 cr in PokerBaazi parent firm, buy 47.7% stake
Esports company Nazara Technologies on Friday said it will invest Rs 982 crore in Moonshine Technology, which owns real money gaming platform PokerBaazi. As part of the deal, Nazara will buy a 47.7 per cent stake in Moonshine Technology for Rs 831.51 crore comprising Rs 592.26 crore cash transaction and a share swap worth Rs 239.25 crore. With the share swap arrangement, select investors and management personnel including Baazi Games, CEO and Founder, Navkiran Singh, will hold 3.17 per cent stake in Nazara Technologies. Besides this, Nazara will invest Rs 150 crore to subscribe to a 100 per cent compulsory convertible which can be converted into equity at a future date as per the agreement clause. "Nazara to invest Rs 982 crore in Moonshine Technology which owns India's leading online poker gaming platform PokerBaazi," Nazara said in a statement. "...PokerBaazi has not only emerged as the undisputed leader in online poker gaming in India but has also set new standards in user ..
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Fri, Sep 13, 2024
The Economic Times
Nazara Tech shares jump 4%, hit 52 week on cos plans to acquire stake in PokerBaazi parent
Nazara Tech Share Price: Nazara Technologies' shares rose over 4% to a 52-week high after announcing plans to acquire a 47.7% stake in Moonshine Technology for Rs 832 crore and invest Rs 150 crore.
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Fri, Sep 13, 2024
The Economic Times
Nazara Tech acquires 47.7% stake in PokerBaazi parent in Rs 832 crore deal
Nazara Technologies has acquired a 47.7% stake in Moonshine Technology, the parent company of PokerBaazi, for Rs 832 crores. Nazara will also inject Rs 150 crore into Moonshine. This move aims to strengthen Nazara's position in India's gaming market. PokerBaazi is a leading online poker platform with around 340,000 monthly active users.
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Fri, Sep 13, 2024
Business Line
Nazara Technologies acquires stake in PokerBaazi parent company
Nazara Technologies’ shares rise 0.46% to ₹1,012.85 on NSE
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Fri, Sep 13, 2024
CNBC TV18
Nazara Tech to acquire 47.7% stake in PokerBaazi parent for ₹982 crore
Nazara's investment is expected to significantly strengthen the company's position as the country's dominant diversified gaming platform.
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Fri, Sep 13, 2024
Business Standard
Nazara Technologies up 6% on acquiring 15.86% stake in STAN for Rs 18.4 cr
The shares of Nazara Technologies surged after the company announced that it has acquired a 15.86 per cent stake in STAN for Rs 18.4 crore (or $2.2 million) in an all-cash secondary transaction.
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Thu, Sep 12, 2024
CNBC TV18
Nazara acquires 15.86% stake in Stan for $2.2 million
Nazara picked up the stake in Stan for $2.2 million in cash through a secondary transaction from existing shareholders.
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Wed, Sep 11, 2024
The Economic Times
Nazara acquires 15.8% stake in esports firm Stan for $2.2 million
In recent months, Nazara has made several acquisitions, particularly through its esports and events arm, Nodwin, including events firm Comic Con India, West Asia and Turkey-focused marketing firm Publishme, Singapore-based events firm Branded and Turkish esports and gaming firm Ninja Global.
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Wed, Sep 11, 2024
The Economic Times
Market Trading Guide: Tata Power, Nazara Technologies among 4 stock recommendations for Wednesday
Indian equity indices rose on Tuesday, driven by IT and pharma stocks. The S&P BSE Sensex gained 0.44% to close at 81,921, while the NSE Nifty50 ended above 25,000. Nagaraj Shetti of HDFC Securities noted that the Nifty's short-term trend has reversed, with immediate support at 24,900.
Business Standard
Nazara Tech buys 48% stake in Paper Boat Apps for Rs 300 cr
The gaming and sports media company announced that it has acquired 5,157 equity shares of Rs 10 each, representing 48.42% of the equity share capital of Paper Boat Apps, from its founding shareholders, Anupam Dhanuka and Anshu Dhanuka.
Business Standard
Nazara Tech partners with Telangana govt for AI centre of excellence
Gaming and e-sports company Nazara Technologies has inked a pact with the government of Telangana to establish an AI centre of excellence (AI CoE) focused on gaming and digital entertainment, a release said on Thursday. The 'Nazara AI CoE' will focus on research, development, and innovation in areas such as gaming, interactive media, gamified learning, and other digital content, leveraging cutting-edge technologies like AI, VR/AR (virtual and augmented reality), blockchain, and Web 3.0. "Nazara Technologies has signed a landmark Memorandum of Understanding (MoU) with the Government of Telangana," the release by Nazara said. With the strategic partnership in place, Nazara aims to establish an AI centre of excellence focusing on gaming and digital entertainment, underlining the company's strengths in AI-driven gaming and digital entertainment space, and Telangana as a global hub for AI innovation. "Telangana's proactive approach in fostering industry growth through public-private ...
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Thu, Sep 5, 2024
Business Line
Nazara Technologies partners with Telangana govt to launch AI Center of Excellence for gaming
This partnership aims to position Telangana as a global hub for AI innovation and Nazara as a leader in AI-driven gaming
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Thu, Sep 5, 2024
The Economic Times
Nazara Tech partners Telangana govt for AI centre of excellence
Nazara Technologies has partnered with the Telangana government to set up an AI centre of excellence focused on gaming and digital entertainment. The initiative will drive research, development, and innovation in areas like interactive media and gamified learning, leveraging technologies such as AI, VR/AR, blockchain, and Web 3.0.
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Thu, Sep 5, 2024
The Economic Times
Nazara net profit up 13% to Rs 24 crore in Q1, revenue dips
Nazara Technologies saw a 13% rise in net profit to Rs 23.6 crore in Q1 FY25, despite a slight revenue decline to Rs 250 crore. The gaming vertical struggled, while the esports segment, particularly Sportskeeda, showed strong growth. North America contributed significantly to the firm’s overall revenue.
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Wed, Aug 14, 2024
The Economic Times
Lenders approve Nazara's resolution plan to buy Smaaash
Nazara's resolution plan received 99% of the creditors' vote in a process which was completed earlier this week. The second bidder-a consortium of financial services firm Resurgent India and Sanjay Lodha-did not increase its offer during negotiations with lenders, people cited above said.
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Fri, Aug 9, 2024
Business Standard
Nazara Tech's two subsidiaries receive Rs 1,120 cr GST demand notice
Nazara Technologies on Wednesday informed that two of its subsidiaries have received show cause notice and intimation for GST liability adding up to nearly Rs 1,120 crore. Openplay Technologies has received a show cause notice from the Director General of GST Intelligence, Kolkata for a proposed liability of Rs 845.72 crore, while in case of another subsidiary -- Halaplay Technologies -- the liability amounts to Rs 274.21 crore. Both the claims are for the period from 2017-18 to 2022-23. The two subsidiaries are reviewing the notices with their legal counsels and tax advisors to determine their future course of action, Nazara said in a BSE filing. "We wish to inform you of the following developments related to ongoing GST matters of the gaming industry on behalf of our subsidiaries...Openplay Technologies...received a show cause notice on 16th July 2024 under Section 74(1) of the CGST Act, 2017, and the State SGST Act, 2017, from the Director General of GST Intelligence, Kolkata fo
The Economic Times
IN10 makes key appointments to its leadership team
IN10 Media Network has appointed four senior leaders: Amarpreet Singh Saini as VP of Content & Strategy at Filamchi Bhojpuri, Manish Soni as VP at Ishara, Vinod Rao as VP at Nazara, and Dipti Kalwani as Senior VP of TV and AVOD at Juggernaut Productions. These appointments aim to boost content creation and channel growth.
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Tue, Jul 16, 2024
Business Standard
Nazara subsidiary to fully acquire Freaks 4U Gaming in deal worth Rs 271 cr
E-sports and gaming company NODWIN will enhance its stake to 100 per cent in its European peer Freaks 4U in a share swap deal valued at around Rs 271 crore, the company said on Friday. Singapore-based NODWIN is a material subsidiary of Nazara Technologies, a company headquartered in Mumbai. "NODWIN Gaming International Pte has signed definitive agreements to increase its existing 13.51 per cent stake in Freaks 4U Gaming GmbH to 100 per cent in tranches through a share swap valued at up to Rs 271 crore (Euro 30.3 million)," the company said in a statement. NODWIN will initially increase its existing stake in Freaks 4U to 57 per cent. "The remaining 43 per cent held by the founders Michael Haenisch, Matthias Remmert and Jens Enders will be swapped at a later time at its option. Existing investors of Freaks 4U Gaming will become shareholders of NODWIN Pte," the statement said. Freaks 4U generated Rs 223 crore (Euro 26.9 million) revenue in 2023. NODWIN acquired a minority stake in F
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Fri, Jun 28, 2024
The Economic Times
Sebi framework for finfluencers; Nazara's Freaks4U deal
The Security and Exchange Board of India (Sebi) has approved a regulatory framework for financial influencers. This and more today’s ETtech Top 5.
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Fri, Jun 28, 2024