Nazara Technologies zooms as its arm to raise fund of Rs 232 crore from investors
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Nazara Technologies is currently trading at Rs. 612.50, up by 31.65 points or 5.45% from its previous closing of Rs. 580.85 on the BSE.
The scrip opened at Rs. 593.95 and has touched a high and low of Rs. 632.60 and Rs. 587.05 respectively. So far 101644 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 4 has touched a 52 week high of Rs. 789.00 on 12-Sep-2022 and a 52 week low of Rs. 481.95 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 632.60 and Rs. 560.00 respectively. The current market cap of the company is Rs. 4056.47 crore.
The promoters holding in the company stood at 19.05%, while Institutions and Non-Institutions held 16.77% and 64.18% respectively.
Nazara Technologies’ material subsidiary -- NODWIN Gaming has signed definitive and binding documentation to raise $28 million (Rs 232 crore) from new and existing investors. Majority of these funds will be channelized towards growing the Gaming and esports ecosystem of NODWIN by expanding and incubating newer IPs, growing the emerging market footprint of NODWIN and for strategic acquisitions that drive value to the network.
As per the statutory filing, all existing investors of NODWIN Gaming (Nazara, KRAFTON and JetSynthesys) will join new incoming investors in this funding round. NODWIN last raised funds in March 2021 from South Korean gaming company KRAFTON at $135 million (Rs 988 crore) value and this round values NODWIN at $325 million (Rs 2624 crore) pre-money and $349 million post money which leads to a value accretion of 2.7X in 2 years.
Nazara Technologies is one o
