Nazara Tech Shares Surge After Board Approves ₹500 Crore Fundraise

• Nazara Technologies Ltd. shares gained after the board approved a fundraise of ₹500 crore via preferential issue of warrants.
• Each warrant is convertible into one equity share and is priced at ₹260 apiece, above the current trading levels.
• Key participants in the fundraise include Riambel Capital PCC, S Gupta Family Investments, Plutus Investment and Holding Pvt. Ltd., Classic Enterprises, and Founders Collective.
• Proceeds will be used for strategic acquisitions, such as Bluetile and BestPlay, and to expand existing business verticals.
• Joint MD and CEO Nitish Mittersain stated the capital will help scale the global gaming business and build AI-enabled platforms.