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31 Mar 2022

Nazara Technologies on Wednesday said its wholly-owned subsidiary Nazara Pte Ltd (Nazara Singapore), will invest $0.875 million upfront in BITKRAFT Ventures Fund I LP while the remaining $1.625 million will be deployed over a three-year period. The announcement through a stock exchange filing. 

Nazara through the deal aims to leverage the BITKRAFT network for potential partnerships and secure deal flow for future M&A from the current portfolio of the funds as well as inflow of deals coming to funds. BITKRAFT counts EPIC Games, Immutable, Gamezop among its active investments. 

Nazara earlier this month said it will invest up to USD 1.34 Million (approx. Rs10 crore) upfront while the balance investment amount of USD 2.66 (approx. Rs20 crore) will be deployed over a period of 3 years in Griffin Gaming Partners Fund II

Also read: Nazara Technologies raises Rs 315 cr for strategic acquisitions, growth initiatives

Nazara Board on 4 March 2022 said its board has approved the issuance of equity shares worth INR 25 crores to existing shareholders of Datawrkz Business Solutions Pvt. Ltd on a preferential basis. The issuance is of 1,10,617 shares of the face value of INR 4 each at an issue price of INR 2,260 per equity share, the company said in an exchange filing. The board has approved convening an extraordinary general meeting on 4 April for seeking the necessary approval of the shareholders concerning the issuance of shares in the Datawrkz transaction.

You may like: Combination of acquisitions and growth helped Nazara Technologies grow 87%: CEO Manish Agarwal

Nazara Technologies had posted around a 17 per cent decline in consolidated profit after tax to Rs 14.8 crore in the third quarter ended December 31, 2021. The company had registered a PAT of Rs 17.9 crore in the corresponding quarter last fiscal. Its consolidated revenue from operations during October-December 2021 grew 42.48% to Rs 185.8 crore, compared with Rs 130.4 crore in the year-ago period.

 

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