Nazara's Major Investment in B2C Gaming: A Strategic Move in Online Poker
Nazara's Strategic Acquisition in B2C Gaming
In a significant move in the B2C gaming market, Nazara has entered a definitive agreement to acquire a 47.7% stake in Moonshine Technology, the parent company of the popular online poker platform Pokerbaazi, for INR 831.5 Cr through a secondary transaction. The investment involves a strategic purchase of 18.96 Lakh equity shares at a face value of INR 10.
Details of the Investment
In an exchange filing, Nazara confirmed that its board had approved the investment, which includes key stakeholders such as founder Navkiran Singh and cofounders Puneet Singh, Avneet Rana, Varun Ganjoo, Anirudh Chaudhry, and Gurjeet Kaur. A private equity firm and a gaming company are also involved. Out of the total amount, Nazara will pay INR 592.26 Cr in cash and the rest through a share swap.
Further Expansion Plans
Nazara’s plan involves an equity infusion of up to INR 150 Cr into Moonshine, bringing the total investment to INR 982 Cr—the largest investment by Nazara so far. This acquisition is poised to strengthen Nazara's position in the B2C online gaming landscape.
Impact on Gaming Operations
Moonshine Technology operates several subsidiaries, including Ross Technologies and SBN Gaming Network, and runs PokerBaazi through its subsidiary, Baazi Networks. Nazara’s investment will not only enhance the reach of PokerBaazi but also expand its diversified gaming vertical under SportsBaazi. In FY24, PokerBaazi significantly contributed to the target group’s net revenue, showcasing its importance in Nazara’s strategy.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.