Rakesh Jhunjhunwala-backed Nazara Technologies raises Rs 100 crore ahead of proposed IPO

Popular gaming company Nazara Technologies raised ₹100 crore from Instant Growth Limited(IGL) advised by Hornbill Capital Advisers LLP.

“We are glad that they (Hornbill) share our conviction and excitement on the future of the gaming sector in India and the value creation potential which gaming offers to the investors,” Manish Agarwal, CEO of Nazara told Economic Times.

Business Magnate Rakesh Jhunjhunwala is an investor in the company. Nazara Technologies has filed for IPO with SEBI and is the first Indian gaming technology company to seek a market debut.

“The leadership team of Hornbill Capital has been part of the growth story of many consumer internet companies and we… look forward to leveraging their experience of working with some of the smartest tech entrepreneurs across the globe and having an inside view of blitz scaling of their portfolio companies in the last decade,” Agarwal said.

 

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