Nazara Tech gains 4% as board approves five investments worth Rs 195 crore

Nazara Technologies shares rose 3.7 per cent in morning deals on Tuesday (December 3, 2024) and logged an intraday high at Rs 1047.85 per share on BSE. The stock climbed after the company's board approved five investments worth Rs 196 crore.

 

Around 10:48 AM, Nazara share price was up 2.53 per cent at Rs 1,036 per share. In comparison, the BSE Sensex was up 0.58 per cent at 80,716.80. The market capitalisation of the company stood at Rs 7,894.5 crore. The 52-week high of the stock stood at Rs 1,124.15 per share and 52-week low of the stock stood at Rs 590.85 per share.

 

On Monday, after market hours, Nazara Technologies unveiled a series of strategic investments aimed at solidifying its position in the gaming and entertainment ecosystems.

 

The company acquired a 60 per cent stake in Funky Monkeys Play Centers Private Limited, an indoor soft play center for children, for Rs 43.7 crore. 

 

Funky Monkeys operates 11 centers across India, offering interactive play experiences for children. Launched in October 2012, Funky Monkeys Play Centers Pvt. Ltd. operates indoor play centers for kids with 11 world-class indoor play centers across Mumbai, Bengaluru, Surat, Ahmedabad, Amritsar & Chennai.

 

Further, the company will invest Rs 4.2 crore for a 4.7 per cent stake in Learntube.ai, an AI-powered platform revolutionising education with 1:1 interactive and gamified learning. LearnTube’s AIfirst is backed by investors including LetsVenture, Reid Hoffman’s Blitzscaling Ventures, Goodwater Capital, AngelList Quant Fund, and Google’s AI Accelerator.

 

Nazara will also invest Rs 148 crore in its existing subsidiaries including Sportskeeda, Nodwin Gaming, and Datawrkz to increase its ownership in them and support their growth. 

 

In Nodwin Gaming, the company will invest Rs 64 crore, in Absolute Sports, Nazara will invest Rs 69 crore and in Datawrkz, the company will invest Rs 15 crore. 

 

Nazara is India’s only listed gaming and esports company, with majority ownership of several leading gaming and esports brands with a presence in India, the US, and other global markets. In esports, Nazara has India’s leading esports platform NODWIN Gaming, and Sportskeeda/Pro Football Network in the sports media space.

 

Nazara’s offerings in the interactive gaming segment include gamified early learning ecosystems like Kiddopia and Animal Jam, India’s most popular cricket simulation franchise, World Cricket Championship (WCC), and a wide portfolio of casual games distributed through telco partnerships in many emerging markets.

 

In the past one year, Nazara Technologies shares have gained 27.2 per cent against Sensex's rise of 16.5 per cent.