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Shares of gaming company Nazara Technologies are seeing strong gains for the second day in a row. Shares of the company rose over 7 percent on the Bombay Stock Exchange (BSE) on Tuesday to Rs. reached 896. Shares of Nazara Technologies hit a new 52-week high. On Monday, the company’s stock rose more than 10 percent to Rs. closed at 835.05. The increase in Nazara’s shares came from Zerodha co-founders Nikhil and Nitin Kamat at Rs. 100 crore has come due to the news of raising.
Now the company is preparing to raise more money
Nazara Technology has said that plans related to raising additional funds will be discussed at the next board meeting. The meeting of the board of directors of the company is scheduled to be held on September 7. In this meeting, approval may be given to raise additional funds by issuing equity shares or securities of the company on preferential basis. Nazara Technologies is talking to local and international investors to raise funds. The company can use the funds raised for potential acquisitions to accelerate its business segments.
Also Read – Shares May Go Upto ₹2600, Price Rockets, Company Is Reducing Debt, Expert Says – Buy
Zerodha’s Kamat Brothers staked Rs 100 crore
On September 4, the board of Nazara Technologies awarded Zerodha founders Nikhil and Nitin Kamat Rs. 100 crore shares have been allowed to be issued. The gaming company announced on Monday that its board has paid Rs. Allowed preferential allotment of shares up to 100 crores. Nazara Technologies Kamat Associates and NKsquared for Rs. 714 will issue 14,00,560 shares.
Disclaimer: The information provided here is only about stock performance and does not constitute investment advice. Investing in the stock market is subject to risk and you should consult your advisor before investing.