India, March 30 -- Gaming major Nazara's board has approved raising over Rs.500 Cr via a preferential issue. The company plans to issue up to 1.92 Cr warrants at an issue price of Rs.260, a 12% premium from its closing price of Rs.232.35 today.

While promoter Plutus Wealth Management will participate in the round, other investors like Riambel Capital, S Gupta Family Investments, Classic Enterprises and Founders Collective will be investing in the company. 

The company intends to use the proceeds from this fundraise to primarily be used to support strategic acquisitions, including the recently announced Bluetile and BestPlay transaction and to accelerate growth across its existing business verticals.

Important to mention that Nazar...