Nazara Technologies Invests Rs 982 Crore in PokerBaazi Owner Moonshine Technology

Nazara Technologies plans a significant investment of Rs 982 crore in Moonshine Technology, owner of PokerBaazi. The deal includes a 47.7% stake acquisition for Rs 831.51 crore through cash and share swap, and Rs 150 crore for convertible equity. This strategic move aims for global expansion and digital economy growth.

Nazara Technologies on Friday announced its decision to invest Rs 982 crore in Moonshine Technology, the owner of real money gaming platform PokerBaazi.

According to the deal, Nazara will acquire a 47.7 percent stake in Moonshine Technology for Rs 831.51 crore, comprising Rs 592.26 crore in cash and a share swap worth Rs 239.25 crore.

In addition, select investors and management personnel, including Baazi Games' CEO and Founder Navkiran Singh, will hold a 3.17 percent stake in Nazara Technologies through a share swap arrangement. Furthermore, Nazara will invest Rs 150 crore in a 100 percent compulsory convertible, which can be converted into equity in the future.

(With inputs from agencies.)