Nazara Technologies to invest over Rs 2 cr in ReelSaga, sells nearly 95% stake in OpenPlay

Nazara's board has granted in-principle approval for Openplay Technologies to provide an unsecured loan of up to Rs 20 crore to Moonshine

by e4m Staff
Published: Mar 8, 2025 9:36 AM | 2 min read

Nazara Technologies Limited, a prominent player in the Indian gaming industry, has announced significant strategic moves following its recent Board of Directors meeting. The company has decided to sell its 94.86% equity stake in Openplay Technologies Private Limited, the parent company of Khel Yaar and Classic Rummy, to Moonshine Technology Private Limited, which owns Pokerbaazi.

The deal, valued at Rs 104.34 crore, will be executed through the issuance of 1,99,890 Compulsorily Convertible Preference Shares (CCPS) of Moonshine. This transaction will result in Openplay transitioning from a Nazara subsidiary to a Moonshine subsidiary. Notably, Nazara currently holds a 46.07% equity stake and 2,87,376 CCPS in Moonshine.

In addition to the stake sale, Nazara's board has granted in-principle approval for Openplay Technologies to provide an unsecured loan of up to Rs 20 crore to Moonshine. This move aligns with Nazara's broader strategic vision for the real money gaming sector.

Expanding its footprint in the digital entertainment landscape, Nazara has also approved an investment of up to USD 250,000 (approximately Rs 2.17 crore) in ReelSaga Innovations Private Limited. This investment, to be made in multiple tranches, will give Nazara a 3.57% stake in ReelSaga.

ReelSaga, a startup founded in 2024, aims to become a leader in India's serialized short drama video market. This sector has shown rapid growth in markets like the US and China. ReelSaga also plans to implement microtransaction-based monetization and subscription models for its platform.

These strategic decisions by Nazara Technologies demonstrate the company's commitment to diversifying its portfolio and capitalizing on emerging trends in the digital entertainment space. By divesting its stake in Openplay while maintaining a connection through Moonshine, and investing in the promising short-form video content market through ReelSaga, Nazara is positioning itself for growth in multiple segments of the digital entertainment industry.