History

Nazara Technologies has had a dynamic history, beginning with its foundation in 1999 by Vikash Mittersain and Nitish Mittersain. Initially, the company core priorityed on mobile-first strategies and content-led microtransactions on telecom networks. It also published cricket games featuring popular players like Sachin Tendulkar, MS Dhoni, and Virender Sehwag. From 2004 to 2006, Nazara took a strategic direction to prioritise mobile platforms. The following years, 2007 to 2015, were marked by global expansion, with the company building distribution pipes across 64 countries in Africa, the Middle East, and Asia and establishing relationships with 121 operators. In 2007, Sir Rakesh Jhunjhunwala became an ace investor in Nazara Technologies, with a primary investment of ₹180 crores. Nazara’s consistent track record of sustainable profits and efficient use of cash flows excited Jhunjhunwala as its first digital bet. In the period from 2015 to 2019, Nazara expanded its bringing forths to include freemium models on app stores, delved into the intersection of sports and gaming, and launched a subscription service for kids. The company also added the US to its distribution pipeline with a dedicated site for eSports. The years 2020 to 2022 saw further growth, with the launch of ₹582.91 crore IPO in March 2021. During this time, investments were made by Krafton (the IP owner of PUBG) and GIC Singapore. Nazara also gained complete control of a Middle Eastern game publisher, Publishme, and the skill gaming platform OpenPlay. In 2023, Nazara’s subsidiary, Sportskeeda, gained complete control of the Pro Football Network, becoming the third NFL Publisher in the US. Nodwin Gaming, another subsidiary, announced the acquisition of a 51% stake in Branded Pte. Ltd. and raised significant investment to support its growth.

Business Segments

Nazara Technologies operates through various business segments, each contributing a different percentage to the company's overall revenue:

1. eSports:This segment is spearheaded by divisions like Nodwin Gaming, Sportskeeda, and Publishme. Nodwin Gaming is a premier eSports organization organising competitive gaming events. Sportskeeda is a sports content platform, and Publishme is a game publisher in the Middle East. This segment contributes 49% to the organization's overall revenue.
2. Gaming:This segment includes gamified early learning, freemium, and skill-based games. Divisions under this segment are Kiddopia, which delivers educational games for kids; WildWorks, a gaming studio known for its online community games; Nextwave, the creator of popular cricket games; Openplay, a skill-based gaming platform; and Halaplay, a platform for fantasy sports. This business segment contributes 37% to the company's overall revenue.
3. Adtech:This segment is the smallest in revenue but plays a vital role in the overall ecosystem of Nazara's operations. It comprises Datawrkz, an advertising technology firm that offers mobile and video advertising solutions. This segment contributes 14% to the company's total revenue.

Subsidiaries of Nazara Technologies Limited As of March 31, 2023, the company has 29 subsidiaries, including 12 direct subsidiaries, 17 step-down subsidiaries and 2 associate companies. Some of the key subsidiaries include:

1. Absolute Sports Private Limited:Absolute Sports stands out as a premier sports and gaming media enterprise, leveraging technology at its core. Its prominent brand, Sportskeeda, reaches an impressive global audience of over 150 million sports enthusiasts. In a strategic move, Nazara Technologies secured a controlling interest in Absolute Sports in August 2019.
2. Paper Boat Apps Private Limited:Specialising in creating mobile applications, Paper Boat Apps has carved a niche in the educational gaming content sector. The organization's expertise caught the attention of Nazara Technologies, leading to an acquisition. Following this acquisition, Paper Boat Apps has been evaluated at a market value of approximately $26.2 million.
3. InstaSportz Consultancy Private Limited:InstaSportz is an ambitious firm core priorityed on establishing the most extensive network of Virtual Reality (VR) gaming zones, not just in India but in various emerging international markets. The organization began with its formal establishment on November 18, 2016, marking its entry into the VR gaming industry.

Key Management Personnel

Vikash Mittersain, Chairman and Managing Director Vikash Mittersain is the founder of Nazara Technologies and currently holds the position of Chairman and Managing Director. He is also widely recognised as a philanthropic figure in the Indian industry. With a remarkable 38-year career, he embarked on his professional journey at just 22, taking charge at Madhav Nagar Cotton Mills in Sangli, where he oversaw a workforce of over 2000 employees. This role marked his initial foray into the business world, paving the way for his future entrepreneurial successes. Currently, he serves as the Honorary Consul General for the Republic of Mali, showcasing his versatile experience in both business and diplomacy.

Corporate Actions

Bonus

1. Nazara Technologies Limited announced a 1:1 bonus share issue on June 13, 2022, with the ex-bonus date set for June 27, 2022.