Nazara Technologies Shares Surge Over 5% on Funding Plans via Preferential Issue

Nazara Technologies a leading gaming and sports media company, witnessed a significant 5% jump in its share price following the announcement of its plans to raise funds through a preferential issue of shares.  

The company disclosed that it would raise an undisclosed amount via the issuance of preference shares, with a board meeting scheduled for January 20 to seek approval for the fundraising initiative.  

This development comes on the heels of Nazara’s recent successful funding round, during which it raised INR 855 crore. The funding was secured from notable investors including SBI Mutual Fund, Mithun Sacheti, the founder of CaratLane and Aamara Capital, among others.  

The proposed fundraising aims to bolster Nazara’s growth trajectory as it continues to expand its footprint in the gaming and esports sectors. The move aligns with the company’s strategy to enhance its market position amid increasing competition in the industry.  

Market analysts are optimistic about the funding plans, which signal investor confidence in the company’s long-term vision and operational performance. The upcoming board meeting will provide further clarity on the specifics of the preferential issue and its impact on the company’s growth plans.  

Nazara’s shares closed at a higher level on the stock exchange, reflecting strong market sentiment surrounding the funding announcement.