Finova Capital is in talks to raise Rs 800 crore (about $95.3 million) from a slew of new and existing investors, while Nazara Technologies is close to picking up a 47.7% stake in Moonshine Technology.
Finova Capital in talks to raise over 90m
Finova Capital, a Jaipur-based non-banking financial company (NBFC), is in talks to raise Rs 800 crore (about $95.3 million) from a slew of new and existing investors, stated a report by MoneyControl.
The round, which would involve a mix of primary and secondary share sale, will be led by Avataar Venture Partners, Madison India Capital and Belgium investment fund Sofina, added the report.
While all the above are slated to come in as new investors, the round could also see the participation of existing backers.
Founded in 2016 by Mohit Sahney and Sunita Sahney, Finova Capital provides business loans to micro, small, and medium enterprises (MSMEs).
Finova counts Norwest Venture Partners, Maj Invest, Faering Capital, and Peak XV (earlier known as Sequoia) among its investors.
Nazara to invest in Pokerbaazi Parent
Gaming and sports media platform Nazara Technologies is close to picking up a 47.7% stake in Moonshine Technology, the parent company of online poker platform Pokerbaazi, as it looks to ramp up M&A Activity in the country.
Nazara’s board has approved the strategic investment that would see acquisition of shares of various stakeholders including private equity firm Bellerive Capital and skill- and chance-based gaming company Influencers Interactive, it said in an exchange filing. However, the transaction is still subject to regulatory approvals.
Last month, the company made headlines when it acquired UK-based gaming studio Fusebox Games for Rs 228 crore ($27.2 million).
The gaming has earmarked about $100 million (Rs 830 crore) towards strategic mergers and acquisitions over the next 24 months, it said earlier this year.
