Home / Uncategorized / Nazara raises $ 42 million to fund growth initiatives and acquisitions | Pocket Gamer.biz

Nazara raises $ 42 million to fund growth initiatives and acquisitions | Pocket Gamer.biz

India-based gaming company Nazara Technologies has raised approximately $ 42 million (315.3 Cr) from marquee investors.

Nazara will issue 1,429,266 shares at a price of approximately $ 29 (2,206 yen) per share.

In accordance with the Securities and Exchange Board of India, the shares will be blocked for a period of one year from the date of issue.

Nazara has stated that the investment injection will be used to expand the company’s growth initiatives and pursue strategic acquisitions.

Part of the acquisition strategy will be to grow its Friends of Nazra ecosystem, including acquisitions in gamified learning, free-to-play, skill-based real money gaming and esports.

Ecosystem growth

“We are grateful to our investors for their strong support for Nazara’s strategic vision and their ability to deliver on its stated goals,” said Manish Agarwal, CEO of Nazara Technologies.

“The investments made by these institutional investors will act as a catalyst for the Nazara flywheel to function faster in all areas of the business and lead to an organic and inorganic increase in shareholder value for both the parent company and the subsidiary.”

The funds raised are subject to the approval of the company’s shareholders and regulatory authorities.

Earlier this year, Nazara acquired a majority stake in Publishme, the largest mobile game publishing agency in the Middle East and Turkey, for $ 2.7 million.

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