Indian gaming giant Nazara Technologies to raise Rs 750 crore from QIBs

Indian gaming giant Nazara Technologies has announced that its board of directors has approved a fundraising effort to raise up to Rs 750 crore through qualified institutional placements.

During the company's IPO, Nazara Technologies successfully raised Rs 583 crore, marking a significant milestone in its financial journey. The upcoming round of fundraising constitutes the first since the company went public, signalling a continuation of its growth trajectory.

While specific details regarding the intended use of the funds are yet to be disclosed, this move indicates a strong forward momentum for the firm. It also reflects the increasing strength of India's digital gaming and esports sector amid a global surge in interest and investment.

"Raising of funds by way of issuance of such number of equity shares having face value of Rs. 4/- each of the Company (“Equity Shares”) and/or any other equity linked instruments/securities or any combination thereof, for an aggregate amount not exceeding Rs. 750 crores (Rupees Seven Hundred and Fifty Crores Only) through one or more qualified institutional placements or preferential allotment or through combination thereof or any other permissible mode," the company mentioned in an exchange filing.

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