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Gaming company Nazara expects to fetch Rs 580 cr with IPO opening March 17

Nazara Technologies, the homegrown gaming company backed by billionaire Rakesh Jhunjhunwala, will open its initial public offering (IPO) on March 17, with the issue price fixed at Rs 1,100-1,101 a share. The offer closes March 19.
The IPO is an offer for sale (OFS) of 5.29 million equity shares by promoters and shareholders. The price band’s upper end will fetch around Rs 583 crore.
Since it is a complete OFS by existing selling shareholders, the company will not raise any money from the IPO. “Our company currently has Rs 300 crore of cash reserve and is able to grow on its own steam so we did not feel the need to raise additional cash immediately,” said Manish Agarwal CEO Nazara Technologies. ....

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Rakesh Jhunjhunwala-backed gaming company raises Rs 100 crore ahead of proposed IPO

Nazara Technologies is the first Indian gaming technology company to seek a market debut.
Representational image
New Delhi: Gaming and sports media company Nazara Technologies has raised Rs 100 crore from a Mauritius-based hedge fund. Instant Growth Ltd (IGL), an investment vehicle of the North America-based limited partners (LPs) of Hornbill Orchid India Fund, has made this investment.
“We are glad that they (Hornbill) share our conviction and excitement on the future of the gaming sector in India and the value creation potential which gaming offers to the investors,” the
Economic Times quoted Manish Agarwal, CEO of Nazara as saying. ....

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Ahead Of IPO, Rakesh Jhunjhunwala-backed Nazara Tech Raises Rs 100 Crore In Funding

Ahead of IPO, Rakesh Jhunjhunwala-backed Nazara Tech raises Rs 100 crore in funding
The gaming platform has invested Rs 300 crore in the last five years in the Indian gaming ecosystem.
February 11, 2021 / 07:45 AM IST
Gaming firm Nazara Technologies, which is backed by ace investor Rakesh Jhunjhunwala, has raised Rs 100 crore in funding from Instant Growth Ltd (IGL).
The fund was raised just weeks after it filed its preliminary papers with markets regulator Securities and Exchanges Commission of India (Sebi) to float an initial public offering (IPO).
The funds will be used towards forging alliances and acquisitions to further bolster its position in the gaming ecosystem as well as strengthening its gamified learning offerings, Nazara Chief Executive Officer (CEO) Manish Agarwal said. ....

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Gaming Firm Nazara Technologies Raises Rs 100 Crore In Funding

Gaming Firm Nazara Technologies Raises Rs 100 Crore In Funding
Nazara has invested over Rs 300 crore in the last five years in the Indian gaming ecosystem.
PTI
09 February 2021
Unsplash
outlookindia.com
2021-02-09T20:47:00+05:30
Gaming company Nazara Technologies Ltd announced on Tuesday that it has raised Rs 100 crore in funding from Instant Growth Ltd (IGL).
The firm said that it will use the funds to bolster its position in the gaming ecosystem and strengthen its gamified learning offerings.
Nazara has invested over Rs 300 crore in the last five years in the Indian gaming ecosystem.
IGL is an investment vehicle of the North America based LPs of Hornbill Orchid India Fund. IGL is advised by Hornbill Capital Advisers LLP, an India-based investment advisory firm founded by Manoj Thakur in 2014. ....

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