Nazara Technologies is a two-decade-old tech platform that controls 21 subsidiaries including NODWIN Gaming, Sportskeeda, Halaplay and other companies in the gaming technology sector. The company reported a growth of 46% in revenue in the financial year of 2020. While Nazara has been profitable in the current financial year, it reported a loss on a consolidated basis in the financial year 2020 according to their financial filings. Nazara filed its prospectus for an IPO earlier this year, and it set to be the first Indian digital platform to go public in 2021.
Esports Contributed to The Majority of Revenue for Nazara
Esports was Nazara’s biggest source of income, and it helped increase the annual income by 41.3% during the previous financial year. Brand sponsorships and sale of media rights from the company’s esports platforms such as NODWIN accounted for 34% of all revenue collections and it grew by 71.2% to to Rs 84.16 crore during FY20. The company also diversified its revenue streams during the period and operations grew by 45.8% to Rs 247.5 crore in FY20 from Rs 169.8 crore in FY19.
How Nazara Technologies Has Been in The Indian Gaming Industry for Over 20 Years
Nazara was founded in 2020 by Nitish Mittersain back in 2000 on the back of affordable data connections and smartphones being introduced in India. The company established itself as a diversified sports media and gaming platform in India, North America and Africa. Its products and services are based on interactive gaming, esports and other technology. The company was among the first entrants in the Indian esports market via NODWIN. Nazara is backed by the “Big Bull of Dalal Street” Rakesh Jhunjhunwala along with IIFL Special Opportunities Fund, Turtle Entertainment Gmbh, and Seedfund2 International.
Nazara Can Be India’s First Gaming Platform to Go Public
Nazara Technologies raised capital funding this month after filing papers with Securities and Exchange Board of India to float an initial public offering. The move could see the company position itself as the first gaming company to go public in the country. Currently, approval from SEBI is required for Nazara to go public and documents have already been filed by the company to initiate the process.
Disclosure: NODWIN Gaming is a minority investor in and a client of AFK Gaming.