New Delhi, March 30 Gaming and sports media firm Nazara Technologies announced on Monday that its board has approved a proposal to raise ₹500 crore through a preferential issue of warrants.
The funds raised through this instrument will primarily support strategic acquisitions, including the recently announced deals for Bluetile and BestPlay, and accelerate growth across the company's existing business verticals.
The company will issue up to 1.92 crore (1,92,31,000) warrants at ₹260 apiece, which includes a premium of ₹258. The move is subject to shareholder and regulatory approvals, the company said in a regulatory filing.
Each warrant is convertible into one fully paid-up equity share of face value of ₹2 within a period of 18 months from the date of allotment.
The funding round will see participation from Riambel Capital PCC, a SEBI-registered Category I Foreign Portfolio Investor, which will be allotted the largest chunk of 94.85 lakh warrants.
Other participants include Classic Enterprises and Founders Collective.
Promoter group entities S Gupta Family Investments and Plutus Investment and Holding Private Limited are also participating in the issue, which the company stated "reinforces alignment and long-term confidence in the company's growth strategy".
"This ₹500 crore fundraising comes at an important phase in Nazara's journey as we execute on our most ambitious growth initiatives, including the Bluetile and BestPlay acquisition," Nazara Technologies CEO Nitish Mittersain said.
Earlier this month, Nazara Technologies announced that its UK-based subsidiary will acquire a 50 per cent controlling stake in Spanish social gaming platforms Bluetile Games and BestPlay Systems for USD 100.3 million (about ₹918 crore).
"This fresh capital, combined with our acquisition strategy, positions Nazara to build globally scalable, AI-enabled gaming businesses and further strengthen our leadership in the sector," Mittersain added.
The company will convene an Extra-Ordinary General Meeting (EGM) of its shareholders on April 30, 2026, to seek the necessary approvals of shareholders for the warrant issuance.
In addition to the fundraiser, the Nazara board also approved the granting of an unsecured loan of up to ₹4 crore to its wholly-owned subsidiary, Smaaash Entertainment Private Limited, in one or more tranches.
Nazara Technologies' portfolio comprises Curve Games, Kiddopia, Animal Jam, Fusebox Games (Love Island, Big Brother, Bigg Boss), World Cricket Championship and Sportskeeda, along with offline gaming businesses such as Funky Monkeys and Smaaash Entertainment.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.