Nazara Technologies Allots Warrants, Gets Rs 118.5 Cr Payment

New Delhi, Jun 5 (PTI) Gaming and sports media firm Nazara Technologies on Friday said its board has approved the allotment of over 1.82 crore warrants on a preferential basis to investors.

The warrants, convertible into equity shares, were issued at a price of Rs 260 apiece (including a premium of Rs 258), the company said in a regulatory filing.

Nazara has received 25 per cent of the warrant issue price as an upfront subscription amount, aggregating to Rs 118.50 crore.

According to the filing, Riambel Capital PCC-RCC1 was the largest allottee, receiving 94.85 lakh warrants for an upfront payment of Rs 61.65 crore.

S Gupta Family Enterprises Pvt Ltd was allotted 40 lakh warrants (Rs 26 crore), while Founders Collective Fund was allotted 9 lakh warrants (Rs 5.85 crore).


Additionally, Plutus Investments and Holding Pvt Ltd was allotted 38.46 lakh warrants for Rs 24.99 crore.

Nazara noted that Plutus will be classified as a member of the promoter group effective from the date of this allotment, as it is associated with certain existing promoters.

The warrant holders are entitled to convert the warrants into fully paid-up equity shares in one or more tranches within 18 months from the date of allotment, upon payment of the remaining 75 per cent of the issue price.

The total number of allotted warrants was slightly lower than originally proposed.

"One of the proposed allottees... intended to be allotted 10,00,000 warrants aggregating to INR 26,00,00,000 became ineligible prior to the date of allotment in terms of Chapter V of the SEBI ICDR Regulations," the filing stated.