Shares of Nazara Technologies jumped by more than 3%; here's why

Nazara Technologies is a leading India-based diversified gaming and sports media platform  

About New Development   

NODWIN Gaming, a significant subsidiary of Nazara Technologies, has signed binding documentation to fund USD 28 million (Rs 232 crore) from both new and existing investors. The majority of these funds will be used to extend and incubate more IPs, increase NODWIN's presence in emerging markets, and make smart acquisitions that will add value to the network in order to build the gaming and esports ecosystem. 

 
According to the statutory filing, all of NODWIN Gaming's current investors (Nazara, KRAFTON, and JetSynthesys) will participate in this round of fundraising with new investors. This deal values NODWIN at $325 million (Rs 2624 crore) pre-money and USD 349 million post-money, leading to a value accretion of 2.7X in 2 years since NODWIN's last funding round from South Korean gaming giant KRAFTON in March 2021 at value of $135 million (Rs 988 crore). 

Share Price Movement of Nazara Technologies Ltd    

The scrip opened today at Rs 593.95 and touched a high and low of Rs 632.60 and Rs 587.05, respectively. Its 52-week high stood at Rs 789, whereas its 52-week low was Rs 481.95. The current market cap of the company is Rs 3,971.77 crore. Promoters hold 19.05%, whereas the Institutional and non-institutional holdings are 16.77% and 64.19%, respectively.     

Company profile   

Nazara Technologies is a leading mobile game company in India. The company provides a variety of varied gaming goods in emerging countries like India, Africa, South East Asia, the Middle East, and Latin America. It also offers eSports and gamified early learning ecosystems. The company is the owner of some of the most recognised intellectual property (IP), including the mobile games WCC and CarromClash, Kiddopia for gamified early learning, Nodwin and Sportskeeda for eSports and eSports media, and Halaplay Technologies Private Limited ("Halaplay") and Qunami for skill-based, fantasy, and trivia games. Through Nodwin and Nextwave, respectively, Nazara was one of the first companies to enter the Indian eSports and cricket simulation markets.