Nazara Technologies Limited has acquired a 47.7% stake in Moonshine Technology Private Limited (MTPL), the parent company of PokerBaazi, for Rs 832 crores through a secondary transaction. Additionally, Nazara will invest Rs 150 crores in primary capital into Moonshine via compulsory convertible preference shares.
“This investment in Moonshine Technology represents a significant step in our journey to strengthen Nazara’s position as India’s dominant diversified gaming platform. PokerBaazi has not only emerged as the undisputed leader in online poker gaming in India but has also set new standards in user engagement, innovation, and overall experience. We’re excited to join forces with Navkiran, Puneet, and the entire Moonshine team, whose vision and leadership have been instrumental in shaping the poker landscape in India,” Nitish Mittersain, CEO, Nazara Technologies, said.
From what is understood, PokerBaazi, a poker platform, generates over 85% of Moonshine’s net revenue. The fantasy sports platform SportsBaazi contributes 12% to Moonshine’s net revenue.
“As the Indian gaming sector continues to grow, we firmly believe that partnering with Nazara Technologies is the right step toward advancing the nation’s gaming ecosystem. With the Hon’ble Prime Minister’s recognition of the gaming sector’s role in shaping India’s $1 trillion digital economy, we are confident that our combined efforts will foster innovation, create new jobs, and further India’s place in the global digital economy,” Navkiran Singh, CEO and founder, Baazi Games (MTPL), added.
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