Nazara optimizes gaming portfolio with strategic sale of OpenPlay to Moonshine

Mumbai-based gaming company Nazara Technologies has divested its 94.85% stake in OpenPlay Technologies Private Limited (OpenPlay) which runs popular Rummy platform, Classic Rummy, to Moonshine Technology Private Limited (Moonshine), the parent company of India’s biggest Poker platform, PokerBaazi.

The transaction, valued at Rs 104.33 crore, will be executed through the issuance of Moonshine’s Compulsory Convertible Preference Shares (CCPS) to Nazara and other sellers, the company said in a statement. 

Strengthening presence in India's RMG sector

With this acquisition, Moonshine strengthens its position in India’s Real Money Gaming (RMG) sector, integrating OpenPlay’s Rummy platform into its existing Rummy offering.

OpenPlay, a mid-sized Rummy operator, has maintained a profitable track record despite recent industry regulatory shifts. 

By integrating OpenPlay’s operations, Moonshine aims to leverage its technological, marketing, and data-driven expertise—particularly from its flagship PokerBaazi brand—to drive significant growth in India’s Rummy market.

The synergy is expected to boost player engagement through cross-platform strategies, optimize user acquisition with shared data-driven insights, and enhance cost efficiencies via unified infrastructure and marketing efforts.

Post the GST regulatory changes, OpenPlay optimized costs and strengthened VIP retention, demonstrating resilience in a challenging market. This acquisition ensures a scalable and sustainable RMG business model under Moonshine’s leadership, it said.

Leadership comments

Commenting on the transaction, Navkiran Singh, Founder & CEO of Moonshine Technology, added: “The acquisition of OpenPlay is in line with Moonshine’s vision of building a holistic made-in-India RMG ecosystem."

Deepak MV, CEO of OpenPlay Technologies, said, "We at OpenPlay are excited to join forces with an industry leader like PokerBaazi/Moonshine and this marks a significant step in creating a more formidable RMG powerhouse. We are confident that Moonshine’s proven expertise in RMG will enable us to unlock substantial value in the Rummy segment."

Earlier this year, Nazara raised Rs 495 crore (about $60 million) from Axana Estates LLP, whose designated partners include Arpit Khandelwal, founder and managing partner of Plutus Wealth Management LLP, and Mithun Sacheti, founder of Caratlane.