MUMBAI – Nazara Technologies, a leading gaming and sports media company, has successfully met its fundraising target for the fiscal year 2024 today, amassing Rs 250 crore through the issuance of equity shares. The company priced its shares at Rs. 872.15 each, attracting significant investment from prominent entities such as NKSquared and Kamath Associates.
In a strategic move to bolster its growth and corporate objectives, Nazara Technologies also announced its acquisition of a stake in Kofluence, a platform that connects brands with social media influencers. The deal, which involved an equity share swap, is valued at Rs 32.4 crore. This acquisition is set to enhance Nazara’s organic growth by integrating over 600,000 content creators from various social media platforms into its network.
The successful fundraising and the stake acquisition in Kofluence position Nazara Technologies favorably, with a strengthened financial standing of over Rs 1,500 crore. This robust capital base is earmarked for future strategic acquisitions and initiatives, including investments in Nazara Publishing.
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