Mumbai, March 31 (IANS) Shares of Nazara Technologies have fallen over 17 per cent so far in 2026, even as the company announced plans to raise Rs 500 crore to support acquisitions and future growth.
The weakness in the share price comes despite the company actively pursuing expansion plans and strategic investments.
On Tuesday, the stock slipped further by Rs 7.80 or 3.25 per cent to close at Rs 232.35. The recent trend shows continued volatility, with the stock falling nearly 6.7 per cent in the last one week and over 12 per cent in the past one month.
Over a longer period, the shares have dropped more than 12 per cent in three months and about 8.8 per cent in six months, although the one-year decline remains relatively limited at around 1.9 per cent.
Amid this decline, the company has announced a major fundraising plan. Nazara Technologies said its board has approved raising Rs 500 crore through a preferential issue of warrants.
The funds will be used mainly for strategic acquisitions and to strengthen its existing business segments.
The company plans to issue up to 1.92 crore warrants at a price of Rs 260 each, which includes a premium of Rs 258.
Each warrant can be converted into one fully paid equity share within 18 months from the date of allotment, subject to shareholder and regulatory approvals.
The funding round will see participation from Riambel Capital PCC, which will receive the largest share of warrants. Other investors include Classic Enterprises and Founders Collective.
Earlier this month, Nazara Technologies had also announced a major international deal. Its UK-based subsidiary is set to acquire a 50 per cent controlling stake in Spanish gaming platforms Bluetile Games and BestPlay Systems for USD 100.3 million, or around Rs 918 crore.
The company is betting on acquisitions and fresh capital to drive its next phase of growth, even as its stock continues to face pressure in the market.
–IANS
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