[Update] Nazara Issues Shares To KAE Capital, Kalysta Capital For Halaplay Deal

[Update] Nazara Issues Shares To KAE Capital, Kalysta Capital For Halaplay Deal

SUMMARY

Nazara is issuing 164,416 equity shares to KAE Capital

The company is also issuing 36,604 equity shares to Kalysta Capital

Nazara is swapping equity shares for its stake in Halaplay

Correction Note | 17:18, June 11, 2020

The earlier version of this article had mistakenly reported that Nazara was raising funds from KAE Capital and Kalysta Capital. The same has been updated to reflect that it is a swap-share for KAE Capital and Kalysta Capital’s investment in Halaplay, in which Nazara holds a majority stake.

The original version of this article was titled ‘Exclusive: Nazara Raising INR 14.6 Cr From KAE Capital & Kalysta Capital’. We have updated the headline to more accurately depict the facts of the report.

We deeply regret the error and apologise for the erroneous reporting. The corrected version follows:


Mumbai-based mobile gaming company Nazara is issuing equity shares to KAE Capital and Kalysta Capital for their investment in Halaplay, in which Nazara holds a majority stake. According to the Ministry of Corporate Affairs (MCA) filings accessed by Inc42, Nazara, in a board meeting on April 28, 2020, floated an offer to issue equity shares valuing INR 14.63 Cr.

While KAE Capital is getting 164,416 equity share, 36,604 are being issued to Kalysta Capital. The price per share will stand at INR 728 for this transaction.

Founded in 2000 by Nitish Mittersain, Nazara Technologies is a mobile games developer and publisher. The company is backed by marquee investors which include West Bridge Capital, IIFL Special Opportunities Fund; Rakesh Jhunjhunwala and Turtle Entertainment GmbH, the IP owner of the world’s largest esports franchise (ESL).

The company runs mobile gaming subscription services to mass mobile internet users comprising first-time mobile gamers across Africa, Middle East, South East Asia, Latin America and the Indian subcontinent.

Nazara has built a strong network of companies in interactive gaming and sports media through investments and acquisitions in various gaming categories including esports, fantasy sports, mobile cricket games and real money gaming among others.

In April, Nazara along with KAE Capital had invested in fantasy sports platform Halaplay. Last year, Nazara Technologies invested an undisclosed amount in vernacular social contesting women-centric platform BakBuck. Nazara has invested in startups such as HalaPlay, Nodwin, Next Wave Multimedia, Hash Cube, Mastermind Sports, Moonglabs Technologies, Bakbuck, CrimzonCode, InstaSportz, NZWorld, HalaPlay, SportsKeeda and Paper Boat Apps.

According to a report by consulting major KPMG and Indian Federation of Sports Gaming — industry’s self-regulatory body, the online gaming industry in India is expected to generate a revenue of INR 11,900 Cr by 2023, growing at 22% CAGR.

Given, the growing internet adoption, better infrastructure and higher smartphone penetration — the industry potential is huge. Besides Nazara, other players in the segment include Junglee Games, Games2win, MPL, among others.

Step up your startup journey with BHASKAR! From resources to networking, BHASKAR connects Indian innovators with everything they need to succeed. Join today to access a platform built for innovation, growth, and community.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

[Update] Nazara Issues Shares To KAE Capital, Kalysta Capital For Halaplay Deal-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

[Update] Nazara Issues Shares To KAE Capital, Kalysta Capital For Halaplay Deal-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

[Update] Nazara Issues Shares To KAE Capital, Kalysta Capital For Halaplay Deal-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

[Update] Nazara Issues Shares To KAE Capital, Kalysta Capital For Halaplay Deal-Inc42 Media
[Update] Nazara Issues Shares To KAE Capital, Kalysta Capital For Halaplay Deal-Inc42 Media
You’re in Good company