Nazara Technologies Invests INR 982 Crore in Indian Gaming Startup

Nazara Technologies, a leading mobile gaming and sports media company, has made a significant investment in Moonshine Technology, the parent company of PokerBaazi, India's leading online poker gaming platform. This strategic move is part of Nazara's ambition to become India's leading diversified gaming platform.

• Nazara will acquire a 47.7% stake in Moonshine Technology for INR 831.5 crore through a secondary transaction.
• This stake will be purchased from existing shareholders, including Navkiran Singh, co-founders Puneet Singh, Varun Ganjoo, Avneet Rana, Anirudh Chaudhry, and private equity firm Bellerive Capital, among others.

Investment Breakdown

The investment is a combination of secondary and primary share purchases:

• INR 831.5 crore for a 47.7% stake through secondary transaction, paid through cash and share swap.
• INR 150 crore for primary shares, making Nazara the majority stakeholder in PokerBaazi.

Strategic Acquisition for Nazara Technologies

The acquisition is expected to bolster Nazara's position in the online skill-based gaming sector, further expanding its reach in the Indian gaming market.

• This investment aligns with Nazara's strategy of becoming India's leading diversified gaming platform.
• Nazara has been active in acquiring or investing in gaming startups, acquiring stakes in six companies in the past few months, including e-sports startup Stan and UK-based Fusebox Games.

PokerBaazi: A Leader in Online Poker Gaming

PokerBaazi has established itself as a leader in online poker gaming in India, renowned for its user engagement, innovation, and overall experience.

• Founded by Navkiran Singh in 2014, Moonshine Technology initially focused on online poker with PokerBaazi before expanding into card games, fantasy sports, and spectator gaming.
• PokerBaazi's success is attributed to its commitment to providing a fair, secure, and entertaining platform for poker enthusiasts.

Impact on the Indian Gaming Industry

This investment signifies the growing prominence of skill-based gaming in India and reflects the increasing interest of investors in this sector.

• The Indian gaming industry is experiencing rapid growth, driven by increasing smartphone penetration, affordable internet access, and a young and tech-savvy population.
• This investment is expected to further boost the development of the Indian gaming ecosystem and drive innovation in the skill-based gaming sector.

Global Expansion for Baazi Games

The partnership between Nazara Technologies and Moonshine Technology is expected to contribute to Baazi Games' aim for global expansion in the gaming space.

• Nazara's expertise and resources will provide Baazi Games with valuable support for its international growth strategy.
• This partnership could pave the way for Baazi Games to tap into new markets and reach a wider audience of gaming enthusiasts worldwide.

Conclusion

Nazara Technologies' investment in Moonshine Technology signifies a strategic move in the Indian gaming industry. This acquisition is expected to drive growth in the online skill-based gaming sector and contribute to Nazara's vision of becoming India's leading diversified gaming platform. The partnership also promises to propel Baazi Games towards its global expansion ambitions.