Nazara Technologies’ board has approved the issue of shares worth INR 410 Cr to SBI Mutual Fund, the company said in an exchange filing
The funds will be invested via three schemes of SBI Mutual Fund, namely SBI MulScap Fund, SBI Magnum Global Fund and SBI Technology Opportunities Fund
Earlier this week, Nazara secured INR 100 Cr from firms managed by Zerodha founders
SBI Mutual Fund is investing INR 410 Cr in Mumbai-based gaming and sports media giant Nazara. In a stock exchange filing, Nazara said that its board has approved the issue of shares worth INR 410 Cr to SBI Mutual Fund, which would include 57,42,296 equity shares with a face value of INR 4 each, at a price of INR 714 per share.
The funds will be invested via three schemes of SBI Mutual Fund, namely SBI MulScap Fund, SBI Magnum Global Fund and SBI Technology Opportunities Fund.
“Making India the gaming nation of the world has been a long-pursued dream for all of us at Nazara. India’s largest domestic mutual fund investing in Nazara is an important milestone for us in this two decade long journey,” Nitish Mittersain, CEO of Nazara Technologies, said.
This comes close on the heels of Nazara Technologies announcing the issue of shares worth INR 100 Cr to firms managed by Zerodha founders Nithin Kamath and Nikhil Kamath.
The company plans to issue 14,00,560 equity shares with a face value of INR 4 each, priced at INR 714 per share. The shares will be proportionately allotted to M/s Kamath Associates and M/s NKSquared, a partnership firm represented by its partners Nikhil and Nithin Kamath, the gaming firm said.
(This is a developing story)
