The company will be using the funds to invest in its growth programs and strategic acquisitions
Amid the continuous growth in the gaming industry, the market capitalisation of Nazara Technologies crossed the Rs. 10,000 crore mark on the Bombay Stock Exchange (BSE), during Monday intra-day trade.
On October 11, its market cap was initially over the Rs 10,000 crore mark, however, at the end of the day’s trade, it stood at Rs. 9,752 Cr.
Meanwhile, its shares on the BSE closed at Rs 3,202.40, higher by Rs 78.65 or 2.52 per cent from its previous close of Rs 3,123.75 per share.
Also, last month, the share price of Nazara went up by more than 66 per cent, leading to an increase in its market cap.
Its share price on the BSE went up by over 18 per cent in the past three trading sessions, amid its announcement of raising Rs 315 crore from Gamnat and Plutus Wealth Management via preferential issue of shares to existing institutional investors.
Meanwhile, Nazara said in a statement that the company is going to use new funds to invest in its growth programs and strategic acquisitions in several business verticals.
Apart from that, Nazara is also looking to expand its “Friends of Nazara” ecosystem, with this fundraiser.
Nazara hitting a 10,000 crore market cap earlier today is definitely a milestone in our long journey. However, as the famous poem goes… the woods are lovely, dark, and deep but we have promises to keep, and miles to go before we sleep!