{"id":3955,"date":"2024-09-13T10:27:26","date_gmt":"2024-09-13T04:57:26","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=3955"},"modified":"2024-09-13T10:27:27","modified_gmt":"2024-09-13T04:57:27","slug":"nazara-technologies-to-invest-rs-982-crore-in-pokerbaazi-parent-to-boost-skill-gaming-presence","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/nazara-technologies-to-invest-rs-982-crore-in-pokerbaazi-parent-to-boost-skill-gaming-presence\/","title":{"rendered":"Nazara Technologies to Invest Rs 982 Crore in PokerBaazi Parent to Boost Skill Gaming Presence"},"content":{"rendered":"\n<p>On <strong>September 12<\/strong>, <strong>Nazara Technologies<\/strong> announced its largest-ever investment of <strong>Rs 982 crore<\/strong> into <strong>Moonshine Technology<\/strong>, the parent company of <strong>PokerBaazi<\/strong>, one of India\u2019s leading online poker platforms. This move aims <span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">to strengthen Nazara&#8217;s position in the&nbsp;<strong>online skill-gaming sector significantly<\/strong><\/span>.<\/p>\n\n\n\n<p>The deal will see Nazara initially acquire a <strong>47.7% stake<\/strong> in Moonshine Technology for <strong>Rs 831.5 crore<\/strong> through a <strong>secondary transaction<\/strong>. This involves purchasing shares from existing stakeholders, including founders Navkiran Singh and others, as well as private equity firm <strong>Bellerive Capital<\/strong> and <strong>Influencers Interactive<\/strong>.<\/p>\n\n\n\n<p>The deal comes in the form of Rs 592.26 crore as cash and Rs 239.25 crore through share exchange-3.17% stake in Nazara. Further, Nazara will also inject Rs 150 crore as primary capital into Moonshine through compulsory convertible preference shares.<\/p>\n\n\n\n<p>CEO of Nazara, Nitish Mittersain added that he is very excited about the recent deal because PokerBaazi&#8217;s leading status in India&#8217;s online poker ecosystem will add impetus to Nazara in terms of growth and innovation in the gaming industry. This deal is also likely to spur growth in the real-money gaming industry that touched $3.1 bn in FY23 and is projected at $7.5 billion by FY28.<\/p>\n\n\n\n<p><em>Do&nbsp;you have a news tip for Lakshmishree reporters? Please email us at&nbsp;<\/em>media@lakshmishree.com<\/p>\n\n\n\n<p><sub><sup>Source:&nbsp;<a href=\"https:\/\/www.moneycontrol.com\/technology\/nazara-technologies-to-invest-rs-982-cr-in-pokerbaazi-parent-to-boost-its-skill-gaming-presence-article-12820908.html\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/www.moneycontrol.com\/technology\/nazara-technologies-to-invest-rs-982-cr-in-pokerbaazi-parent-to-boost-its-skill-gaming-presence-article-12820908.html\" rel=\"noreferrer noopener\">Moneycontrol<\/a><\/sup><\/sub><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On September 12, Nazara Technologies announced its largest-ever investment of Rs 982 crore into Moonshine Technology, the parent company of PokerBaazi, one of India\u2019s leading online poker platforms. This move aims to strengthen Nazara&#8217;s position in the&nbsp;online skill-gaming sector significantly. The deal will see Nazara initially acquire a 47.7% stake in Moonshine Technology for Rs [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[367],"class_list":["post-3955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-nazara-technologies-pokerbaazi"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=3955"}],"version-history":[{"count":2,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3955\/revisions"}],"predecessor-version":[{"id":3958,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3955\/revisions\/3958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/3956"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=3955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=3955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=3955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}