Nazara in Rs. 14.6 Crores Deal to Become Major Shareholder in Halaplay

Nazara Technologies Ltd has today announced an equity swap of stocks from Kae Capital worth Rs. 14.6 crores (approx. US$1.9 million) to become the majority stakeholder in Halaplay Technologies Pvt. Ltd.

The leading global gaming and sports media company, based in Mumbai, has twice previously invested in Halaplay over the last three years - firstly, with Kae Capital in November 2017, and then with Delta Corp Ltd in March 2019.

Nazara has now bought Kae Capital stocks in Halaplay to make them the majority investors in the real money daily fantasy sports platform.

Previously Nazara has invested in start-ups including Nodwin Gaming, Next Wave Multimedia, Sportskeeda, Paper boat apps, Mastermind Sports, and Moonglabs Technologies, for a total network numbering over 100 million players.

Halaplay launched in 2017 and has reported explosive growth in the user base and total transactions its worldwide cricket, football, and kabaddi leagues.

In November 2019, Nazara pledged to invest US$20 million (approx. RS. 152 Crores) during 2020 in start-ups across the subcontinent, Africa, and the Middle East.

And in April 2020, Halaplay raised Rs. 2.94 Crores from Gaussian Networks and Nazara to help cashflow problems caused the postponement of the IPL.