Nazara Tech to raise Rs 100 crore from Zerodha’s Nikhil Kamath, will issue 14 lakh equity shares

Nazara Technologies Limited, a diversified gaming and sports media platform, on Monday announced that its board has approved preferential allotment of equity shared to raise up to Rs 100 crore, subject to approval of the shareholders of the company. “The Company is proposing to issue 14,00,560 equity shares of face value of Rs 4 each at a price of Rs 714 per equity share aggregating to Rs 999,999,840 (Issue) proportionately to Kamath Associates and NKSquared,” the company said in a regulatory filing.

As per the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements), Regulations, 2018, these equity shares will be locked in for a period of 6 months from the date of issue.