Monitoring Agency Report for the quarter ended March 31, 2025.
NAZARA · price
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Awaiting price reaction for this filing.
Nazara Technologies filed the Q4 FY2025 Monitoring Agency Report prepared by ICRA Limited, covering two preferential issues. The first issue of Rs. 509.99 crores (net Rs. 502.20 crores after expenses) has been mostly deployed — Rs. 477.20 crores utilized for debt repayment (Rs. 61.08 crores), M&A and inorganic growth (Rs. 300.92 crores), and general corporate purposes including investments in Moonshine Technology (Rs. 46.13 crores) and Absolute Sports (Rs. 69.07 crores). The second issue of Rs. 900 crores was undersubscribed, with net proceeds of Rs. 849.58 crores almost fully utilized, primarily for the Moonshine Technology acquisition (Rs. 592.26 crores), other inorganic growth (Rs. 82.74 crores), and general corporate purposes (Rs. 174.54 crores). ICRA confirmed no deviation from disclosed objects and that all projects remain on schedule, with Rs. 25 crores of the first issue parked in a Jana Small Finance Bank fixed deposit earning 6.75%.
This is a routine compliance filing that confirms Nazara has used the funds raised from both preferential issues as promised, with major bets placed on Moonshine Technology and Absolute Sports. For shareholders, it signals disciplined, on-track capital deployment aligned with the stated M&A strategy, but the success of these acquisitions will need to show up in future earnings to justify the spending.