Nazara Technologies FZ LLC to invest in Griffin Gaming Partners II, L.P

Nazara Technologies FZ LLC ("Nazara Dubai"), a wholly owned subsidiary of Nazara Technologies Limited ("the Company"), has entered into Subscription Agreement & Investor Questionnaire and other related transaction documents with Griffin Gaming Partners II, L.P (the Fund), GGP GP II, LLC (the Fund Manager) on March 07, 2022 for the purpose of purchase of Limited Partner interest in the Fund and admission of Nazara Dubai as Limited Partner in Griffin Gaming Partners II, L.P, for a capital commitment not exceeding USD 4 Millions (approx. INR 30 Crores), payable in cash, in one or more tranches.

Nazara Dubai will invest upto USD 1.34 Millions (approx. INR 10 Crores) upfront while the balance investment amount of USD 2.66 (approx. INR 20 Crores) will be deployed over a period of 3 years. Griffin Partners Fund II, L.P, ("Griffin" or "Fund") (https://griffingp.com/) is a firm prefers to invest in gaming platforms and infrastructure, gaming content, and game studios. Nazara Dubai, with this proposed investment, aims to build network with Limited Partners ("LP") as well as the Investee Companies of that Fund and to gain access into Global Gaming Ecosystem. Nazara Dubai aims to leverage the Griffin network for the following strategic initiatives:

1. Potential partnerships and / or potential investment into the Company & its subsidiaries.

2. Securing deal flow for future M&A from the current portfolio of the funds as well as inflow of deals coming to funds.

3. Co-investment opportunities into highly sought after founders/ companies.

Shares of Nazara Technologies Limited was last trading in BSE at Rs. 1765.35 as compared to the previous close of Rs. 1747.75. The total number of shares traded during the day was 7854 in over 1422 trades.

The stock hit an intraday high of Rs. 1800.05 and intraday low of 1720.00. The net turnover during the day was Rs. 13832546.00.

Source : Equity Bulls

Keywords

NazaraTechnologies INE418L01021 NazaraTechnologiesFZLLC Dubai Investment GriffinGamingPartners