Nazara Tech to raise Rs 900 crore; ups stake in Absolute Sports to 91%

Gaming and sports media company Nazara Technologies on Wednesday said its board has approved a preferential equity issue to raise Rs 900 crore.

Nazara also announced increasing its stake in Absolute Sports to 91 per cent.

The fresh capital will fuel the firm’s strategic acquisitions and business expansion, and provide newer growth opportunities, a company statement said.