Mobile game publisher Nazara Games raises Rs 330 Cr from IIFL

Rakesh Jhunjhunwala
Image Credit: Nazara Games

Mumbai-based mobile game developer company Nazara Games has raised Rs 330 crore from Asset management firm India Infoline Finance Ltd’s (IIFL) Special Opportunities Fund.

Following the investment, IIFL has acquired a minority stake in the gaming company, however, it didn’t disclose the size of the stake.

“We at Nazara welcome IIFL to join us on the exciting journey of tapping into the potential offered by gaming across emerging markets in the Indian subcontinent, South East Asia, Middle East, Africa and Latin America,” Nitish Mittersain Managing Director & Founder, Nazara Games, reported Mint.

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Founded in 2000, Nazara Technologies uses an artificial intelligence-based system, where the end player can experience playing like the Indian cricketer. The mobile gaming publisher is operational in 48 countries including India, Dubai, Singapore, and Mauritius.

The company had partnered with the studio last year to launch a 4D cricket game-Virat Super Cricket and Epic Cricket, featuring Indian cricket run machine Virat Kohli.

As of September 2017, Nazara has amassed over 34 million downloads with over 10 million monthly active users.

The company is planning to launch Rs 1,000-crore IPO by the end of financial year. It has roped in ICICI Securities and Edelweiss Financial Services for the IPO launch, which could be the first public listing company in the gaming space.

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Earlier, this month, Nazara Games along with Kae Capital invested in Bengaluru-based HalaPlay, a daily fantasy sports (DFS) platform. Kae and Nazara will pick up a 32% in the gaming company.

Besides HalaPlay, Nazara Games invested an undisclosed amount in game development studio Moong Labs, a developer of 3D cricket simulation games in August. Prior to that, it had also invested an undisclosed amount in London-based mobile games studio TrulySocial.

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