India, Aug. 6 -- Gaming major Nazara Technologies has approved raising up to Rs.733.5 Cr through a preferential issue of equity shares to fund strategic acquisitions, growth initiatives across its gaming portfolio, and investments in AI-led game development capabilities.

The company's board approved issuing up to 2.39 Cr equity shares at Rs.306 apiece, aggregating up to Rs.733.5 Cr

The preferential issue will be entirely subscribed by the founders and senior leadership team of Bluetile Games and BestPlay Systems, which Nazara acquired earlier this year. The company said the investment reflects the investors' confidence in its long-term growth strategy.

Incoming CEO Raymond Albaladejo Stauffer will invest about Rs.583.5 Cr as part of th...