Cyril Amarchand Mangaldas advised Nazara Technologies

Cyril Amarchand Mangaldas advised Nazara Technologies

Cyril Amarchand Mangaldas (“CAM”) acted as the legal counsel for Nazara Technologies Limited. Nazara has raised ~ INR 855 crores - by way of a preferential allotment of 89,59,728 fully paid-up equity shares to certain identified investors (i.e. SBI Innovative Opportunities Fund (Scheme of SBI Mutual Fund), Junomoneta, Finsol Private Limited, Think India Opportunities Master Fund LP, Discovery Global Opportunity Mauritius Limited, Siddhartha Sacheti, Mithun Sacheti, Cohesion MK Best Ideas Sub-Trust, Chartered Finance and Leasing Limited, Ratnabali Investment Private Limited, Meenakshi Mercantiles Limited and Aamara Capital Private Limited) ("Investors"). The objective of the preferential allotment was to raise funds for making strategic acquisitions (including towards potential payment of an amount upto 592.26 crores for part-payment of the consideration payable to existing shareholders of Moonshine Technology Private Limited towards acquisition of 13,55,678 equity shares by Nazara), inorganic growth opportunities, and for general corporate purposes.

The preferential allotment of equity shares to the Investors was approved by the Board of Nazara at its meeting held on September 18, 2024, by shareholders of Nazara at the Extraordinary General Meeting held on October 12, 2024, and the in-principle approval of the stock exchanges was received on November 19, 2024. The Company completed the allotment on November 27, 2024.

The Team was led by Archit Bhatnagar, Partner; with support from Nikita Singhi (Senior Associate); and Sanskruti Kulkarni (Associate).

Other parties to the transaction included: MG Consulting Private Limited (Acted as consultant for Nazara Technologies Limited, on corporate secretarial aspect)

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