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Nazara Technologies Limited Initial Public Offer to open on March 17, 2021

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Nazara Technologies Limited, the leading India based diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America, and offerings across the interactive gaming, eSports and gamified early learning ecosystems including World Cricket Championship (WCC) and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin and Sportskeeda in eSports and eSports media, and Halaplay and Qunami in skill-based, fantasy and trivia games, will open the initial public offer of equity shares of face value of ₹4 each (“Equity Shares” and such initial public offer, the “Offer”) on  March 17, 2021. The Offer will close on March 19, 2021. The Price Band of the Offer has been fixed at ₹1,100 to ₹1,101 per Equity Share.

The Offer comprises initial public offering of up to 5,294,392 equity shares of face value of ₹4 each (“Equity Shares”) of Nazara Technologies Limited (“Company” or “Issuer”), through an offer for sale of by the selling shareholders, comprising of up to 1,267,435 equity shares by IIFL Special Opportunities Fund, up to 1,036,286 equity shares by IIFL Special Opportunities Fund – Series 4, up to 873,989 equity shares by IIFL Special Opportunities Fund – Series 5, up to 816,804 equity shares by IIFL Special Opportunities Fund – Series 2, up to 691,900 equity shares by Mitter Infotech LLP (the “Promoter Selling Shareholder”), up to 393,349 equity shares by IIFL Special Opportunities Fund – Series 3, (IIFL Special Opportunities Fund, IIFL Special Opportunities Fund – Series 4, IIFL Special Opportunities Fund – Series 5, IIFL Special Opportunities Fund – Series 2 and IIFL Special Opportunities Fund – Series 3 together, referred to as the “Investor Selling Shareholders”), up to 150,000 equity shares by Good Game Investment Trust, up to 25,000 equity shares by Seedfund 2 International, up to 23,725 equity shares by Porush Jain, up to 14,959 equity shares by Azimuth Investments Limited and up to 945 equity shares by Seedfund 2 India (Good Game Investment Trust, Seedfund 2 International, Porush Jain, Azimuth Investments Limited and Seedfund 2 India together, referred to as the “Other Selling Shareholders, and together with the Promoter Selling Shareholder and the Investor Selling Shareholders, referred to as the “Selling Shareholders”). This offer includes a reservation aggregating up to ₹20 million for purchase by eligible employees (the “Employee Reservation Portion”). The offer less the employee reservation portion is hereinafter referred to as the “Net Offer”. The Company, the Promoter Selling Shareholder and the Investor Selling Shareholders in consultation with the BRLMs, may offer a discount of up to 10.00% to the Offer Price (₹110 per share) to Eligible Employees Bidding in the Employee Reservation Portion (“Employee Discount”).

Bids can be made for a minimum of 13 Equity Shares and in multiples of 13 Equity Shares thereafter.

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The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that our Company, the Promoter Selling Shareholder and the Investor Selling Shareholders in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion. One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation

Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.

Further, not more than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to RIBs in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank account (including UPI ID for RIBs using UPI Mechanism), in which the corresponding Bid Amounts will be blocked by the SCSBs or the Sponsor Bank, as applicable. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

ICICI Securities Limited, IIFL Securities Limited (in compliance with the proviso to Regulation 21A of the SEBI (Merchant Bankers) Regulations, 1992, IIFL Securities Limited will be involved only in marketing of the Offer), Jefferies India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers to the Offer.

 

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Former Thai Police Chief Torsak Faces Investigation for Bribery

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Thailand’s National Anti-Corruption Commission (NACC) has initiated an investigation into former Royal Thai Police commissioner-general Pol General Torsak Sukvimol and seven others for alleged bribery linked to illegal gambling operations.

According to Thai media, this decision follows accusations that Torsak demanded money and assets from 18 gambling websites and other illicit businesses during his tenure as national police chief from October 2023 to September 2024.

NACC secretary-general Sarote Phuengramphan stated that sufficient evidence, including witness testimonies, has been gathered to justify the investigation, with the commission overseeing the inquiry.

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In addition, the NACC is examining separate allegations against former deputy national police chief Pol General Surachate Hakparn, who is accused of accepting bribes from gambling sites and involvement in money laundering. Sarote indicated that more information is needed before proceeding with this case.

Torsak had been suspended in March due to conflicts with Surachate but returned to duty in June until his replacement by Pol General Kitrat Phanphet on October 1. Surachate, known as “Big Joke,” was removed from his position by royal command.

The post Former Thai Police Chief Torsak Faces Investigation for Bribery appeared first on European Gaming Industry News.

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DigiPlus Celebrates Double Victory at the Asia Pacific Enterprise Awards

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DigiPlus Interactive, the brand behind popular gaming platforms BingoPlus, ArenaPlus and GameZone, announced its double recognition at the Asia Pacific Enterprise Awards (APEA) 2024. DigiPlus was honoured with the Corporate Excellence Award and the Fast Enterprise Award, reinforcing its role as a leader in digital entertainment.

The awards ceremony, held on December 11 at Hilton Manila, celebrated businesses and individuals who have demonstrated exceptional achievements, leadership and innovation. The Corporate Excellence Award recognises DigiPlus’ commitment to sustainable growth, innovative leadership and exemplary business practices. The Fast Enterprise Award acknowledges the company’s rapid growth and adaptability in an ever-evolving and competitive market.

“DigiPlus was born from a vision to redefine digital entertainment in the Philippines. This recognition is a celebration of the incredible passion, ingenuity, and dedication of our team. It is also a tribute to our stakeholders, whose trust empowers us, and the communities we serve, who inspire us to continue pushing boundaries and elevating entertainment experiences for all,” said Celeste Jovenir, VP of Investor Relations, Corporate Communications and Sustainability.

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Government support, medals, and global recognition define a landmark year for Indian esports and video gaming in 2024

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The Indian video gaming and esports industry witnessed exponential growth in 2024, breaking into the mainstream. According to the recently published ‘India Gaming Report,’ the Indian pure-play gaming industry is valued at INR 6,715 crore and is on track to grow at a CAGR of 24%, reaching INR 10,487 crore by 2026. With a staggering 13.85 crore gamers and an annual growth rate of 11.82% projected until 2026, the sector shows no signs of slowing down.

This year was marked by several historic milestones. India showcased its esports prowess on the global stage by securing a silver medal in Tekken 8 at the BRICS Esports Championship and a bronze medal in eFootball at the Asian Esports Games 2024. Adding to the excitement, the International Olympic Committee’s announcement of the Olympic Esports Games 2025 has opened new doors for India to achieve further international acclaim in esports.

Government and state support for the industry also saw remarkable growth. The Union Cabinet announced the establishment of the National Centre of Excellence for AVGC-XR in Mumbai, while the Ministry of Information and Broadcasting is backing the inaugural WAVES Esports Championships 2025. States like Bihar introduced esports tournaments in schools, and Meghalaya became the first Indian state to sponsor an esports team. Nagaland also joined the momentum by hosting its first esports tournament, reflecting the growing grassroots movement across the country.

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In addition to government initiatives, one of the industry leaders driving this transformation was NODWIN Gaming, a leader in new-age youth entertainment, gaming, and esports whose initiatives elevated Indian gaming to new heights. The company’s flagship esports IP, the BGMI Masters Series, not only brought esports to national television for the third consecutive year but also facilitated the entry of high-profile brands like Garnier Men and Android into the Indian esports ecosystem.

NODWIN Gaming also created one of the nation’s biggest youth entertainment events of the year by hosting DreamHack India alongside Hyderabad Comic Con. Internationally, the company acquired leading European esports company Freaks 4U Gaming and Turkey-based esports firm Ninja Global, while also partnering with the Global Esports Federation. Domestically, NODWIN Gaming expanded its footprint by acquiring Trinity Gaming and Comic Con India and collaborating with JSW Sports, reinforcing its position at the heart of youth entertainment.

 

Akshat Rathee, Co-founder and Managing Director, NODWIN Gaming believes that in 2024, games became an integral part of the cultural zeitgeist, with creators and influencers amplifying their appeal among youth. The year witnessed significant strides in institutional support, with government recognition playing a pivotal role in legitimising esports as a sport.

“This rapid growth of gaming and esports has allowed NODWIN Gaming to evolve into a holistic youth-focused entertainment company. By focusing on curating entertainment platforms that go beyond esports, we have managed to build a comprehensive ecosystem that includes content production, event management, and community engagement, enabling us to connect with youth across multiple touchpoints. We believe that our philosophy of timeshare of mindshare has driven our strategy to reach audiences where they live, play, and engage, ensuring sustained growth and relevance,” he explains.

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A significant highlight this year was the acknowledgment of the gaming industry by Prime Minister Shri Narendra Modi. For the first time ever, the PM met with leading Indian gamers like Animesh Agarwal (8Bit Thug), Naman Mathur (Mortal), and Payal Dhare (PayalGaming) to discuss the sector’s various aspects and its potential.

Creating even more history, S8UL Esports, India’s leading esports and gaming content organization, co-founded by Mortal and Animesh, completed a hat-trick of awards at the global Esports Awards, with Mortal also winning ‘Esports Content Creator of the Year.’ S8UL secured back-to-back victories at MOBIES 2024, with PayalGaming becoming the first Indian female to win ‘Streamer of the Year,’ further elevating India’s global esports reputation.

“2024 was a landmark year for S8UL, filled with milestones that cemented our position as leaders in global esports. In the past year, esports has solidified its position as a mainstream cultural phenomenon. The distinction between competitive esports and gaming became clearer, helping audiences and stakeholders better understand the ecosystem. At the same time, esports, traditional sports, and influencer-driven content began working more cohesively, creating synergies that enhanced fan experiences and industry growth. Brands now view esports not just as a sponsorship opportunity but as a platform for deep, authentic engagement with Gen Z and Millennials. This evolution underscores the industry’s maturity, making esports a dynamic and indispensable part of modern culture,” states Animesh Agarwal aka 8Bit Thug, Co-founder, S8UL Esports.

While India has long been a mobile-first gaming market, 2024 saw developments aimed at diversifying the landscape, with CyberPowerPC, a global leader in custom gaming computers, making its debut in the Indian market. Along with its groundbreaking configurator tool, the company introduced the EZPC module, allowing gamers to build PCs tailored to their favorite titles.

CyberPowerPC recently demonstrated its commitment to expanding the PC gaming community by awarding two premium gaming PCs, each valued at over INR 1 lakh, to two gamers at one of India’s largest gaming festivals in Mumbai. The initiative aimed to showcase the potential of custom gaming PCs while fulfilling the dreams of these gamers for an unparalleled gaming experience.

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Vishal Parekh, Chief Operating Officer, CyberPowerPC India, notes 2024 has been a year of unprecedented growth for the Indian gaming and esports ecosystem. Gaming has evolved into a mainstream cultural phenomenon, fueled by India’s expanding digital economy and government initiatives like ‘Digital India,’ which have provided fertile ground for the industry’s growth. The focus on Tier 2 and Tier 3 cities has unlocked new demographics, driving demand for high-performance gaming rigs. At CyberPowerPC India, we have strengthened our engagement with the gaming community through partnerships with esports organizations, and our focus remains on delivering systems that combine high performance with affordability.”

Another notable development in the Indian gaming sector was 88 Pictures, the Indian animation and VFX studio behind Emmy-winning shows launching its game development division called 88 Games. With three premium titles in development, the studio aims to showcase India’s rich folklore and history to a global audience. This aligns with Prime Minister Modi’s Independence Day call for Indian developers to make their mark internationally, positioning 88 Games as a leader in India’s growing presence in the global gaming landscape.

“In 2024, we witnessed a surge of homegrown studios and games, including our own, highlighting the immense potential for the industry’s growth. The rapid growth of gaming and esports has transformed them into viable career paths. Awareness has increased, not just about being a gamer or creator but also about the wide array of roles in the industry. While the industry is currently mobile-centric, there’s a massive opportunity in PC and console gaming. At 88 Games, we aim to fill this gap by focusing on premium titles for these platforms, contributing to a more balanced and diverse gaming ecosystem,” says Milind D. Shinde, Founder & CEO of 88 Games.

As the year closes, it is evident that Indian esports and gaming have not only grown but transformed into a cultural and economic powerhouse. Given the rapid pace of growth, the industry is all set to shape the future of entertainment both at home and on the global stage.

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