Nazara Technologies Limited has acquired a 47.7% stake in Moonshine Technology Private Limited (MTPL), the parent of online gaming platform PokerBaazi, for INR 832 crores (US$99.2 million) through a secondary transaction. Additionally, Nazara will invest INR 150 crores (US$17.9 million) in Moonshine via compulsory convertible preference shares.

PokerBaazi contributes over 85% of Moonshine’s net revenue and had approximately 340,000 monthly active users as of May 2024. In addition, Moonshine operates SportsBaazi, a fantasy sports platform that contributes 12% to its overall revenue.

Currency converted from Indian rupee to US dollar: US$1 = 83,89 rupees.