According to corporate papers, online gaming and esports startup Nazara Technologies is introducing Nazara Publishing, a publishing platform enabling developers worldwide to exhibit their games in India.
In the next 18 months, the business plans to release up to 20 games for PC, VR, web3, and mobile devices. Each game would require a minimum investment of Rs 1 million, according to the company.
The platform announced its intention to collaborate with several Indian and international developers in order to localise and distribute their games to the sizable Indian gaming community.
Nitish Mittersain, CEO & joint MD of Nazara Technologies, stated, “We are committed to supporting both Indian and international game developers, offering resources, knowledge, and a strong network to deliver top-tier gaming experiences to India’s vast audience.”
The startup also hopes to promote Indian developers internationally through its platform. “Nazara sees a significant opportunity in the Make-in-India initiative, and as part of this initiative, we will also promote Indian game developers globally,” Mittersain continued. “With a special focus on supporting Indian developers.”
The business also hopes to help developers with game design, localization, data analytics, quality assurance, beta testing, improved monetization, and robust distribution through its publishing platform.
The Mumbai-based business was sent with a GST show cause notice last month for Rs 2.83 crore. Nazara received a tax demand related to the company’s export of specific services for which it failed to pay GST.
After the board of the company approved the issuance of 5.7 million equity shares to the fund at a price of Rs 714 per share, the company raised Rs 410 crore from SBI Mutual Funds early last month. This occurred a few days after Nikhil Kamath, a co-founder of Zerodha, gave the company Rs 100 crore to help it enter the game publishing market.
In the past, the Singapore branch of Nodwin Gaming paid $2 million to acquire the game marketing firm PublishME, acquiring a 100% ownership from the company’s current shareholders, Nazara Technologies Limited and Ozgur Ozalp. Nodwin Gaming’s ability to provide solutions for publishers and brands will be improved by the merger and acquisition of PublishME.
Nazara Technologies’ stock surged about 7% to the day’s peak of Rs 879 on the NSE in the first trade following the company’s announcement that it would be paying $2 million to purchase a 100% stake in the game marketing firm PublishME.