Gaming firm Nazara Technologies to raise Rs 410 cr from SBI Mutual Fund

Nazara Technologies, a gaming and sports media firm, said on Thursday its board has approved raising funds worth Rs 410 crore by issuing more than 5.7 million equity shares.

“The Company is proposing to issue 57,42,296 Equity Shares at a price of Rs 714/- per Equity Share aggregating to Rs 4,099,999,344/- (“Issue”) to SBI Mutual Fund, by way of preferential issue on private placement basis,” said the company in a regulatory filing with the BSE.

The funds will be invested via three schemes: SBI Multicap Fund, SBI Magnum Global Fund, and SBI Technology Opportunities Fund.