Nazara Technologies has raised over ₹474 crore through a preferential issue of 1.82 crore warrants priced at ₹260 each, the company announced today. The board approved the allotment to investors including Fidelis Global, S Gupta Family Enterprises, promoter Plutus Investments, and Founders Collective Fund. The upfront subscription amount of 25% has already brought in around ₹118.5 crore, according to inc42.com.
The allotment saw Fidelis Global’s Riambel Capital PCC-RCC1 receive the largest share with 94.85 lakh warrants, followed by S Gupta Family Enterprises with 40 lakh warrants. The promoter entity Plutus Investments was allotted 38.46 lakh warrants, while Founders Collective Fund, associated with Peter Thiel, received 9 lakh warrants. Warrant holders have the option to convert these into equity shares within 18 months by paying the remaining 75% of the issue price. The planned issuance was reduced by 10 lakh warrants after one proposed allottee became ineligible.
This capital raise comes as part of Nazara’s broader strategy to strengthen its financial position amid growing competition in the gaming sector. The issue price of ₹260 per warrant represents a 12% premium over the stock’s closing price of ₹232.35 on the day of the announcement. Earlier, Nazara had disclosed plans to raise ₹26 crore from Classic Enterprises, a partnership involving Sanjeev Singhal, Gaurank Singhal, and Aditya Singhal, signaling continued investor interest in the company’s growth trajectory.
The preferential issue follows the company’s March 30 announcement and reflects ongoing investor confidence in Nazara’s business model. The next key date for investors will be the warrant conversion deadline within 18 months, by which holders must pay the remaining 75% of the issue price to convert warrants into equity shares.