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Nazara Technologies Boosts Stake in Nextwave Multimedia to 74.88% with Rs 2.3 Crore Investment
Mumbai, India – Nazara Technologies Limited has increased its equity holding in Nextwave Multimedia, the developer of the popular World Cricket Championship (WCC) series, from 71.88% to 74.88%.
As part of the deal, Nazara acquired 1,000 equity shares of Nextwave Multimedia, paying Rs 2.3 crore in the first tranche. The balance will be settled in due course, according to a stock exchange filing. Despite the transaction, Nextwave continues to operate as a subsidiary of Nazara Technologies.
Second Tranche of Acquisition
The second tranche involves acquiring 8,375 equity shares, representing 25.12% of Nextwave Multimedia, for Rs 19.33 crore. This will be executed either through cash or stock issuance within six months of the closure of the first tranche.
Nazara’s Strategic Growth Moves
Nazara Technologies has steadily increased its stake in Nextwave since first acquiring a majority share in 2018. In May 2023, it raised its holding to 71.88% before this latest transaction.
Recently, the company also strengthened its financial position by raising Rs 855 crore (approx. $100 million) through a preferential issue, approved on November 27, 2024.
Strong Financial Performance
In Q2 FY25, Nazara reported:
- Revenue growth of 7.3% YoY to Rs 318.94 crore
- Net profit growth of 10.85% YoY to Rs 21.97 crore
Expanding Gaming & Esports Portfolio
Alongside this investment in Nextwave Multimedia, Nazara has been strengthening its presence in the Indian gaming ecosystem:
- Nodwin Gaming (a Nazara subsidiary) received Rs 64 crore funding approval from the parent company.
- Nazara also acquired Trinity Gaming for Rs 24 crore, further boosting its esports and influencer talent management capabilities.
Why This Matters
Nazara’s growing stake in Nextwave Multimedia signals a strong commitment to cricket gaming in India, particularly the WCC franchise, which dominates the mobile cricket gaming space. With its aggressive investments, Nazara is positioning itself as a leading gaming and esports powerhouse in India and globally.
SS Gaming Staff
