Nazara Technologies, a leading name in India’s booming gaming industry, has secured INR 220 crore from SBI Mutual Fund as part of its latest funding round. This strategic investment comes through a share subscription agreement, with SBI Funds Management Limited acquiring 23.05 lakh equity shares at a price of INR 954.27 per share.
This round is part of Nazara’s broader initiative to raise INR 900 crore via a preferential equity issue approved by the company’s board in September 2024. The infusion of funds is intended to bolster Nazara’s gaming portfolio, enabling the company to seize opportunities within the rapidly expanding online gaming and esports ecosystem in India.
The INR 220 crore investment by SBI Mutual Fund positions Nazara to further cement its leadership in the gaming industry. The company plans to allocate the capital towards scaling its gaming ventures, particularly in areas such as esports, mobile gaming, and gamified learning. Nazara’s multi-vertical approach includes real-money gaming and esports, both growing at an accelerated pace.
Nazara has made significant progress in India’s gaming ecosystem through strategic acquisitions and partnerships. These funds will be channeled towards enhancing the company’s product offerings and strengthening its technological infrastructure, which are crucial for sustaining its growth in the competitive gaming market.
India’s gaming market is on a rapid growth trajectory, with projections indicating it will reach $8.6 billion by 2027. The surge in online gaming, coupled with the growing popularity of esports, presents Nazara with an unparalleled opportunity to capture a larger market share. With the capital infusion from SBI Mutual Fund, Nazara is well-positioned to drive long-term growth, expand its gaming portfolio, and explore new business avenues.
In addition to its focus on the domestic market, Nazara is also eyeing international expansion. The company aims to tap into emerging gaming markets across Asia, the Middle East, and Africa, leveraging next-generation technologies such as AI-powered gaming platforms and blockchain gaming. These innovations are expected to be key drivers of Nazara’s growth in the coming years.
With this fresh round of funding, Nazara Technologies is poised to strengthen its foothold in India and abroad, continuing its legacy as a dominant player in the gaming industry.
Credit: This article is based on information from Economic Times, Business Standard, and Mint.
Key Highlights:
- Nazara Technologies raised INR 220 crore from SBI Mutual Fund through a preferential equity issue.
- The funds will be used to scale Nazara’s gaming portfolio, including esports and mobile gaming.
- India’s gaming market is projected to grow to $8.6 billion by 2027, providing substantial growth opportunities.
- Nazara plans to use the funds for domestic expansion and entry into international gaming markets.