Nazara acquires 47.7% stake in PokerBaazi’s parent company for Rs 982 crore
According to media reports, Nazara’s board has approved the acquisition of 18,96,674 equity shares of Moonshine from existing shareholders
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Published: Sep 13, 2024 3:28 PM | 1 min read
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Gaming firm Nazara has reportedly announced an investment of Rs 982 crore in PokerBaazi’s parent company, Moonshine Technology.
According to media reports, Nazara’s board has approved the acquisition of 18,96,674 equity shares of Moonshine from existing shareholders.
The Mumbai-based company will acquire a 47.7% stake for a total consideration of Rs 832 crore ($100 million), which includes a secondary purchase of Rs 592 crore and a share swap valued at Rs 239 crore.
Reports say as part of the deal, Nazara will also invest Rs 150 crore to purchase primary shares of Moonshine. This additional investment will make Nazara as the majority stakeholder in PokerBaazi.
Nazara has been on an acquisition and investment, having acquired or invested in six startups over the past few months. Earlier this week, it acquired a 15.86% stake in e-sports startup Stan.
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