Jhunjhunwala-backed Nazara plans Rs 315 cr preferential issue

Nazara Technologies, the first domestic gaming company to go public, on Wednesday said its board has approved a preferential allotment of fresh equity shares worth Rs 315.30 crore to institutional investors.

The board has approved the “issuance of upto 14,29,266 equity shares of face value of Rs 4 each of the company, for cash, at an issue price of Rs 2,206 per equity share aggregating to Rs 315,29,60,796 to Gamnat Pte Ltd and Plutus Wealth Management LLP…on a preferential basis,” it said in a regulatory filing.

This is subject to the approval of shareholders and regulatory/statutory authorities, it added.

Gamnat Pte Ltd — which is a unit of Singapore’s GIC — will receive 11,77,680 shares, taking its post preferential issue shareholding to 3.62 per cent.