As per information received from Nazara Technology management, they have put an additional 14.5 Cr in Halaplay, a fantasy gaming company. It has bought these stakes worth Rs. 14.5 Cr from Kae Capital. This is not a cash deal but in the form of a swap of equity shares. With this deal, Nazara Technology will become the majority shareholder in the company. What is a swap of equity shares? This type of deal is ideal in case the company doesn't want to put direct money for buying stakes instead gives its equity shares. Example Let us suppose the total valuation of Nazara Tech is Rs.100 and Halaplay is Rs.50. Now Nazara tech wants to acquire 100% stakes in the Halaplay. They have the following two options: 1. Pay Rs. 50 and acquire 100% stakes. 2. Swap its equity shares in the ratio of 1:2 with Halaplay shareholders. The ratio is 1:2 has arrived because Nazara Tech is valued 2x as compared to Halaplay. Nazara chooses the second option. After this deal, Halaplay shareholders will get equity shares of Nazara Technology. Other investments in Halaplay? In 2017, Nazara Technology had invested first time in Halaplay. After that, Delta Corporation, a listed entity, had also invested in 2019. Now, again in 2020, Nazara Technology has bought stakes in Halaplay. What is Halaplay? Founded in 2017 by Swapnil Saurav, Prateek Anand, Ananya Singhal, and Aman Kesari in 2017, it is a fantasy gaming company. In Halaplay, you can form a team, play Cricket, Football, and Kabbadi and win prizes. They cover services and leagues across all ODI, Test, T20s International Matches, and few domestic leagues. Also, they cover EPL, La Liga, ISL, Champions Trophy, Euro Cup, World Cup matches in football. UnlistedZone View We at UnlistedZone.com are in the view that all these acquisitions which Nazara is currently doing from the last 18 months will make it a leader in the gaming space, and will command hefty valuation in the coming years.