IIFL Special Opportunities Fund buys stake in Nazara

IIFL Special Opportunities Fund has bought a minority stake in Nazara for Rs 330 crore. WestBridge Capital-backed gaming company Nazara Technologies is a mobile games company which is engaged in the acquisition of, value addition to and distribution of mobile games across emerging markets.


According to Nazara Technologies founder and MD Nitish Mittersain, “We at Nazara, welcome IIFL AMC to join us on the exciting journey of tapping into the potential offered by gaming across the emerging markets in the Indian subcontinent, South East Asia, Middle East, Africa and Latin America.”

WestBridge Capital co-founder and MD Sandeep Singhal commented, “WestBridge has been an investor in Nazara since 2005 and it is a matter of great pride to see the young company grow up into an adult the way it has. We believe that IIFL AMC’s addition as an investor will add value to the company’s future plans in meaningful ways.”


Source: http://cablequest.org/index.php/news/new-media/item/11583-iifl-special-opportunities-fund-buys-stake-in-nazara