Nazara invests in Sportskeeda and Qunami, ups stake in Halaplay

Online game publisher Nazara Technologies Limited is reportedly on the verge of closing a Rs. ꧑36 crore deal to gain majority stake in Absolute Sports Private Limited, the parent company of leading online sports content and news website Sportskeeda.

According to an exclusive , Nazara is proposing to acquire 118,000 equity shares of Absolute Sports in a cash plus st𒅌ock deal.

For the acquisition, Nazara is paying an issue price of Rs. 10 to purchase shares from existing investors, promoteౠrs and key managerial personnel and is additionally also offering the existing shareholders of th🦩e company a total of 491,100 shares of Nazara Technologies at a premium of Rs. 724 per share.

According to the Inc42ꦗ report, Nazara is further planning to purchase equity shares worth Rs. 7.09 crores in Sports Unity Private Limited, the company that operates the real money quiz app Qunami.

The deal is proposed to be an all stock deal with Nazara allotting 34,900 shares to non banking financial company, Azimuth Investmenღts, which had given a Rs. 6.25 crore loan to Sports Unity, apparently to convert Sports Unity’s debt into equity.

Accordꦍing to the regulatory filings to the Registrar of Companies (ROC) cited by Inc42, Nazara is also looking to increase its stake in fantasy sports HalaPlay to 52.53% by acquiring Kae Capital and Kalysta Capital Fund’s stake in the company in a share swap deal.

In exchange of Kae Capital and Kalysta Fund’s 26,080 shares in Halaplay, they are being🌱 offered 315,900 shares of Nazara Technologies, which will take their combined holding in the ga🃏ming publisher to 1.14%.

Earlier this year, , along with gaming and hospitality company Delta Corp. Delta Corp had also divested its fantasy sports portal LeagueAdda and transferreꦕd it to Halaplay as part of the deal.

In the past couple of years, Nazara has aggressively invested in real money as well as social gaming startups including CrimzonCode, Kenyan real-money betting coꦰmpany NZ World Kenya Ltd, NextWave Multimedia, MasterMind Sports, Truly Social, NODWIN Gaming and Moong Labs.

Nazara has also indicated its interest in either starting or acquiring online poker, 🌄rummy and other real money skill gꦡames in India.